Siemens, one of the world’s leading electrical and electronics companies, is looking to participate in wind energy projects in Viet Nam, a company executive said.
Erdal Elver, new president and chief executive officer of Siemens Viet Nam, told reporters in HCMC on Thursday that Siemens had discussed with some partners about the possibility of the company’s participation in developing such projects.
The investors in talks with Siemens over the wind energy generation projects are local and foreign companies, including one from Malaysia, Elver told the Daily after the press conference.
He said Siemens wanted to provide equipment and solutions for the projects, which are now in the stage of study. “There are studies about the possibility to set up wind farms in Vietnam… Vietnam is an excellent country for such wind farms because of its long coastline.”
Elver noted the investment in wind farms was high, but wind energy was environmentally friendly. “In the future, part of energy must be generated from such a source. Many European countries have invested in wind farms.”
Because of much investment, Elver said wind energy projects would need great support of the Government. He stressed the importance of tax incentives and plans to produce a certain percentage of energy from renewable sources.
He gave an example that the governments of Germany and China were supporting and pushing the development of wind farms, and they targeted a certain percentage of energy would be generated by winds.
Elver said it was just a matter of time for Viet Nam to invest in wind farms as it helped protect the environment and create a new source of energy.
In addition to wind energy projects, Siemens is looking for opportunities to provide equipment and solutions for power plants in the pipeline in Vietnam after years of success in this market.
Siemens Viet Nam posted total revenue of 477 million euro in fiscal 2007 and 2008. Elver said the target for 2009 and the years afterward was to grow more than double of Vietnam’s gross domestic product growth and affirm the company’s position as a leading provider of solutions for the country’s major industries including energy, manufacturing and healthcare
Source: SGT
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Relevant provincial agencies in Kien Giang Province are hurrying to work out a plan for land compensation and the clearing of the site where a thermo-electricity power plant will be constructed in the locality, according to Secretary of the Provincial Party Committee Truong Quoc Tuan.
In a press conference on March 8th, the Party Secretary said that the Kien Luong thermo-electricity power plant will be finished quickly and will be largest such plant in Vietnam to date.
Under the current design plans, the plant will cover an area of nearly 600 ha in Kien Luong District and have a total electrical generating capacity of some 4,400 MW when fully operational.
The project is being invested in by the Tan Tao Group with a total budget of over US $7 billion.
Representatives from Tan Tao said the construction work on the power plant project will be divided into three phases. The first phase will be started in 2009 and finished by 2013, while the second phase will last from 2013 to 2016, with the third phase being completed in 2020.
After the completing of the first phase of construction, the plant will have a generating capacity of some 1,200 MW of electricity.
Source: SGGP
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A delegation of Japanese businesses met with Ho Chi Minh City authorities on March 9, expressing a desire to increase their investment in the city.
The delegation, headed by the president of the Vietnam-Japan Committee for Economic and Cultural Exchange, Masahiro Iwashita, included the representatives of businesses from eight different fields such as chemistry, energy, infrastructure and transport.
Members of the delegation had nothing but praise for HCM City’s potential for development.
For his part, the Chairman of the Municipal People’s Committee, Le Hoang Quan, said the city wants to learn from Japan’s experience in developing its infrastructure, education, culture, and arts.
He pledged that the city will create the best possible conditions for Japanese businesses to invest successfully in the southern economic hub.
Source: VNN
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Dutch property conglomerate, the EEC Group, on March 10 announced the launch of Promenada @ Canary, a massive new shopping and entertainment complex in the southern province of Binh Duong.
The 82,000sq.m complex, located in front of the Vietnam-Singapore Industrial Park in Thuan An District, some 17km from downtown HCM City, is a joint venture between ECC and Guocoland Vietnam, a real estate developer from Singapore.
ECC Group will contribute 80 percent and Guocoland the remaining 20 percent of the joint venture’s registered capital of US$33 million.
Promenada @ Canary says that it will offer an innovative mix of international and local fashion, foods and beverages, as well as leisure and entertainment services.
The project’s first phase is expected to be completed by the 3rd quarter of 2011 and the second phase, in late 2012.
Construction is scheduled to start in the second half of 2009 and will provide thousands of jobs for local workers. When completed, Promenada @ Canary will employ 3,000 local workers.
Source: VNN
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Soco International Plc of the UK announced that it will delay its oil exploitation plan at Te Giac Trang (White Rhino) field until mid 2011, one year behind schedule.
The Financial Times on March 10 quoted Ed Story, Soco’s president and CEO, saying his company has also decided to cancel its plan for exploration at Te Giac Den (Black Rhino) field.
Back in June 2008, Soco said that it would drill a new well in this field within the next 6-9 months. However, the company has now confirmed that it will not be undertaken before the first half of next year.
Analysts say Soco’s assets remain attractive to a potential buyer identified as Sinochem of China which bought Soco’s assets in Yemen worth US$465 million last year.
However, Ed Story said talks to sell assets had taken place only "sporadically", and there was "nothing definitive to discuss".
Source: VNN
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