Petrovietnam subsidiary to build offshore wind farm foundations for Orsted
Petrovietnam Technical Services Corp (PTSC) on Friday signed a contract to build offshore wind farm foundations for Orsted, becoming the first Vietnamese business to receive a mass order for offshore wind power equipment.
The technical arm of national oil & gas group Petrovietnam will manufacture 33 suction bucket foundations for turbine operation following an eco-friendly design developed by the Danish energy giant.
It is the first time such advanced production technology has been deployed in the Asia-Pacific region, said Orsted project development director Jonas Solhøj.
The move is part of PTSC's transition to mass production, a major development from single production, unlike traditional oil-gas activities, said PTSC CEO Le Manh Cuong. The contract will demonstrate PTSC and Vietnam’s capabilities in the global offshore wind power sector, he added. The project is set to use 70,000 tons of steel and employ thousands of people.
The products will be installed at the Great Changuha 2b & 4 offshore wind power (CHW2204) projects in Taiwan. Orsted secured a corporate power purchase agreement (CPPA) for the 920-MW project with Taiwan Semiconductor Manufacturing Company Limited (TSMC) in July 2020.
Located 35-60 kilometers off the Changhua coast, the project is scheduled to conduct onshore construction later this year, fabrication of components in 2023-2024, and completion of offshore construction by the end of 2025.
In November 2022, Petrovietnam’s mechanical and construction company PTSC M&C conducted the first cut of steel for the offshore substations Hai Long 2 and Hai Long 3 at the 1,044-megawatt Hai Long Offshore Wind Project in the Taiwan Strait.
In October 2021, the project announced a consortium of Vietnam's PTSC M&C and Danish company Semco Maritime had been selected as the suppliers for the two offshore substations.
Petrovietnam is currently not allowed to invest in offshore wind power projects under a resolution of Politburo, the Communist Party's premier decision-making body. But the state-owned oil and gas group is strongly capable of such a business, said its vice chairman Pham Tien Dung at a workshop in March to promote Vietnam’s offshore wind power development.
Resolution 41 dated July 2015 specifies development orientations for Vietnam's oil and gas industry until 2025, with a vision until 2030.
"Petrovietnam is capable of all offshore wind power activities, from the start to the end phases. In seabed surveys, hydrogeological tasks, data analysis and research, Petrovietnam is the best in Vietnam, thanks to its experience working at sea over the past 60 years," Dung said.
- Read More
6,000 international tourists arrive in Vietnam on 5-star cruises
Nearly 6,000 international guests have arrived in Vietnam aboard five-star cruise ships in the last two days and are set to visit a range of famous natural, historic and cultural landmarks in different regions.
Companies - Sat, October 26, 2024 | 10:08 pm GMT+7
Chinese online retail platform Temu submits papers for Vietnam operations
Chinese online retail platform Temu has submitted a document to Vietnamese authorities for registering its Vietnam operations.
Companies - Sat, October 26, 2024 | 9:38 pm GMT+7
Five investors register for $2.2 bln LNG power project in central Vietnam
Five investors have applied to join the $2.2 billion Quynh Lap LNG-fired power plant project in Nghe An, according to the provincial Department of Planning and Investment.
Investing - Sat, October 26, 2024 | 4:00 pm GMT+7
Southern Vietnam coastal province promotes fish sauce, chocolate, crafts at HCMC show
Farmers and businesses from Ba Ria-Vung Tau are promoting a range of specialties and OCOP (One Commune One Product) products from the province at an exhibition in Ho Chi Minh City.
Companies - Sat, October 26, 2024 | 2:19 pm GMT+7
Northern Vietnam province Quang Ninh has new Party chief
Vu Dai Thang, a Party Central Committee member and Party chief of Quang Binh province in central Vietnam, has been assigned as Party chief of Quang Ninh province for the 2020-2025 term.
Politics - Sat, October 26, 2024 | 1:40 pm GMT+7
Thai-controlled Sabeco to start acquiring 43% stake in brewer Sabibeco next week
Thai Beverage-controlled Sabeco will start its public tender offer to buy an additional 37.81 million shares, or a 43.2% stake, in local brewer Sabibeco on October 31 until December 25.
Companies - Sat, October 26, 2024 | 11:20 am GMT+7
Vietnam mining group Vinacomin appoints new CEO
Vu Anh Tuan, a board member of state-owned Vietnam Coal and Mineral Industry Group (Vinacomin) has been appointed general director, starting from last Monday.
Companies - Sat, October 26, 2024 | 11:14 am GMT+7
Foreign players net sell $46.4 mln worth of Vietnam equities this week
Foreign investors continued to net sell on the Vietnamese stock market this week, to the tune of VND1,178 billion ($46.43 million) as the U.S. dollar extended its strengthening.
Finance - Sat, October 26, 2024 | 9:39 am GMT+7
Northern Vietnam province sees five-year registered FDI exceeds target by 181%
Quang Ninh province in northern Vietnam expects to attract $10 billion in registered foreign direct investment (FDI) in the 2021-2025 period, local authorities say.
Investing - Sat, October 26, 2024 | 8:00 am GMT+7
Vietnam invites state-owned Chinese giant to join $67 bln high-speed railway project
Vietnam’s Commission for the Management of State Capital at Enterprises (CMSC) has invited China State Construction Engineering Corporation (CSCEC) to participate in and "make contributions" to the country’s $67-billion cross-country high-speed railway project.
Infrastructure - Fri, October 25, 2024 | 7:35 pm GMT+7
Vietnam National Assembly Office Chair unexpectedly steps down
Vietnam’s National Assembly (NA), the country's supreme legislative body, has unexpectedly relieved Bui Van Cuong from the post of its General Secretary.
Politics - Fri, October 25, 2024 | 7:19 pm GMT+7
Vietnamese lender MSB owned 34% by 9 major shareholders holding over 1% stake each
A total of 33.69% of Vietnam Maritime Commercial Joint Stock Bank, or MSB, is held by nine institutional shareholders who own an over 1% stake each, according to its updated list of shareholders.
Banking - Fri, October 25, 2024 | 4:24 pm GMT+7
Belarus seeks cooperation with Vietnam in manufacturing automobiles
Belarus wants to collaborate with Vietnam in manufacturing automobiles for export, President Aleksander Lukashenko said to his Vietnamese counterpart Pham Minh Chinh at a Thursday meeting on the sidelines of the BRICS Summit.
Industries - Fri, October 25, 2024 | 4:08 pm GMT+7
Tran Cam Tu promoted to permanent member of Vietnam Party Central Committee’s Secretariat
Tran Cam Tu, a member of the Politburo and the Party Central Committee's Secretariat, was appointed permanent member of the Secretariat by the Politburo on Friday.
Politics - Fri, October 25, 2024 | 3:56 pm GMT+7
SeABank offers comprehensive financial solutions to support import-export businesses
SeABank has developed a diverse range of flexible financial products to help import-export enterprises optimize cash flow and ensure smooth operations.
Companies - Fri, October 25, 2024 | 3:34 pm GMT+7
SeABank empowers women-owned businesses with exceptional benefits and specialized support
To support and facilitate the growth of women-owned enterprises, SeABank has introduced a range of exclusive programs and specialized financial products, reinforcing its goal of becoming a trusted financial partner for women-owned businesses in Vietnam.
Companies - Fri, October 25, 2024 | 3:22 pm GMT+7