Vietnamese seafood-solar firm plans Mekong Delta wind energy investment
Sao Mai Group Corporation, a leading seafood processor and solar energy developer in Vietnam, has applied to develop two wind power farms in the Mekong Delta province of Tra Vinh.
The firm discussed its plan for the V1-1-phase 2 and V3-8 wind-to-power projects in Duyen Hai township at a meeting with the province’s Chairman Le Van Han last week.
The Dong Hai 1- Tra Vinh wind-to-power farm, invested by Trungnam Group, in Tra Vinh province, southern Vietnam. Photo courtesy of Trungnam Group.
Le Thanh Thuan, president of Sao Mai Group’s founding and development council and its former chairman, said they will send a fact-finding team to several locations in the province.
Thuan and his family members are major shareholders of the firm.
Tra Vinh has invited investors to participate in eight wind-to-power projects with a combined capacity of 463 megawatts this year. Among these, the V1-1-phase 2 and V3-8 wind-to-power projects have a capacity of 48 MW each.
The province, which plans to become a green energy hub in the Mekong Delta, has licensed nine wind power projects, five of which with a combined capacity of 322 MW have been connected to the national grid. The remaining four are under construction.
The province also hosts a 140MW solar power farm and a 25MW biomass plant, both operational.
It is also home to Vietnam’s first green hydrogen plant, with an investment of $341 million and an annual capacity of 240,000 tons of hydrogen and 195,000 tons of oxygen.
Besides renewable energy, Tra Vinh was seeking investment in a large-scale shrimp processing plant, and has great potential in housing, tourism and hospitality development, provincial Chairman Han told Sao Mai executives. He asked them to consider investing in these areas.
In Q1/2024, Sao Mai Group, listed on the Ho Chi Minh Stock Exchange as ASM, earned consolidated net profits of VND58.48 billion ($2.3 million) on revenues of VND2,548 billion, down 15.5% and 16.5% year-on-year, respectively.
This year, the group has targeted revenues of VND14,222 billion and net profits of VND800 billion ($31.5 million).
ASM shares were trading up 1% at VND10,550 ($0.42) apiece at Monday’s morning break.
- Related News
- Read More
Credit institutions in Vietnam boast total assets of over $858 bln
Total assets of Vietnam’s entire banking system had reached over VND21,070 trillion ($858.4 billion) as of June 30, 2024, up 4.97% from the end of 2023, according to the Vietnam Bankers Association.
Banking - Sun, September 15, 2024 | 8:13 am GMT+7
Three provincial officials charged with illegally refunding VAT for solar power project
Three officials from Binh Phuoc province's Tax Department in southern Vietnam have been investigated for “showing a lack of responsibility, causing serious consequences” in a case involving a value added tax (VAT) refund to Loc Ninh 3 Energy JSC.
Society - Sat, September 14, 2024 | 11:23 pm GMT+7
Vietnam’s sluggish LNG-fired power projects can be expedited only under nation’s legal framework: Minister
Vietnam is striving to speed up progress on two sluggish LNG-fired power projects – Son My 1 and Son My 2 – but this has to happen within the nation’s legal framework, says Minister of Industry and Trade Nguyen Hong Dien.
Energy - Sat, September 14, 2024 | 11:07 pm GMT+7
Uniqlo to open first store in central Vietnam next year
Japanese clothing brand Uniqlo will open its first store in Vietnam’s central region in 2025, at the Aeon Mall Hue in Thua Thien Hue province.
Companies - Sat, September 14, 2024 | 7:00 pm GMT+7
From Mozambique to Vietnam: A journey to wisdom
A young Mozambican student, Oraiden Manuel Sabonete, is making waves with a rich tapestry of languages and a deep-seated passion for cultural immersion after nearly five years studying in Hanoi.
Travel - Sat, September 14, 2024 | 3:43 pm GMT+7
PV Gas supplies rail-transported LNG to first customer in northern Vietnam
Vietnam CNG JSC (PV Gas CNG), a subsidiary of PV Gas, has completed the delivery of liquefied natural gas (LNG) transported by rail from the south to its first customer in northern Vietnam.
Companies - Sat, September 14, 2024 | 3:26 pm GMT+7
Thailand’s Central Retail opens $13 mln mall in Ha Nam province, 40th in Vietnam
Thailand’s leading retailer Central Retail opened a mall under its GO! brand in the northern province of Ha Nam on Saturday, its 40th facility in Vietnam.
Industries - Sat, September 14, 2024 | 3:10 pm GMT+7
Airport Construction Corp-led consortium wins $260 mln Long Thanh airport bidding package
A consortium led by state-controlled Airport Construction Corporation (ACC) has won a VND6.37 trillion ($260 million) bidding package for construction of and equipment installation for aprons at the Long Thanh International Airport in the southern province of Dong Nai.
Infrastructure - Sat, September 14, 2024 | 2:18 pm GMT+7
Vietnam auto sales up 2% to 188,997 units in Jan-Aug
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 188,997 units in the first eight months of 2024, up 2% year-on-year.
Companies - Sat, September 14, 2024 | 10:44 am GMT+7
Nearly 20% of Malaysia’s population classified as obese
Obesity is one of the most pressing health concerns in Malaysia, with nearly 20% of its population classified as obese.
Southeast Asia - Sat, September 14, 2024 | 10:38 am GMT+7
Thai rice prices hit one-year low
Thai rice prices fell to their lowest in over a year as bidders were forced to reduce their high prices in a recent auction held by Indonesia, while Indian rice export prices extended losses this week to hit an eight-month low.
Southeast Asia - Sat, September 14, 2024 | 10:36 am GMT+7
Cambodia focuses on promoting cashew exports
By exporting more than 830,000 tonnes of raw cashew in the first seven months of this year, Cambodia has become the world's second largest exporter of the nut.
Southeast Asia - Sat, September 14, 2024 | 10:23 am GMT+7
VAFIE proposes new circular on rules of origin under EU-Vietnam FTA
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) on Friday proposed the Ministry of Industry and Trade promptly issue a new circular on the rules of origin in the EU-Vietnam Free Trade Agreement (EVFTA) to facilitate trade and supply chains.
Companies - Sat, September 14, 2024 | 8:13 am GMT+7
Vietnam to consider nuclear power as primary source, expedite offshore wind projects
Vietnam’s Ministry of Industry and Trade has been tasked with studying development of nuclear power as a primary energy source, according to a document released by the Government Office on Thursday.
Energy - Fri, September 13, 2024 | 11:07 pm GMT+7
Vietnam, US work on opening markets for more agricultural produce
Vietnam’s Ministry of Agriculture and Rural Development is collaborating with relevant agencies to complete procedures for exporting to the U.S. a series of new agricultural produce including oranges, tangerines, plums, and seedless lemons.
Economy - Fri, September 13, 2024 | 7:15 pm GMT+7
KWE Beteiligungen AG-invested TNH hospital seeks $6.2 mln through public offering
TNH Hospital Group JSC, a private hospital chain based in Vietnam’s northern province of Thai Nguyen, plans to raise VND152 billion ($6.2 million) through a public offering to repay loans to its executives and banks.
Finance - Fri, September 13, 2024 | 5:00 pm GMT+7
