US giant backs Vietnam’s bid to lead ASEAN gas trade
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
The south central province of Ninh Thuan is still looking for capable investors to develop the mammoth power complex.
Gulf Energy Development Public Company Limited has once again expressed interest in developing the gas-fired power complex in Ninh Thuan province.
Representatives from the Thai company, which first met provincial authorities to talk about the project late last year, have come back to seek investment opportunities.
The complex is located in Ca Na commune, Thuan Nam district and designed with four plants and a combined capacity of 6,000MW. Total development costs are estimated at $7.8 billion.
Pham Van Hau, vice chairman of Ninh Thuan Provincial People's Committee said the power project played a pivotal role in promoting socio-economic development for the province.
The provincial authorities have tabled the development masterplan for the project to the Ministry of Industry and Trade for appraisal.
Hau said after the plan was approved by competent authorities, the province would select investors for the project, adding that the province considered Gulf Energy Development as a potential investor.
The project has attracted other investors, including France's Total, which wanted to partner with Siemens, Vovatek (Russia) and Vietnam A&A Technology and Investment Co., Ltd. to deploy the project with a total capacity of 4,500 MW.
Gulf Energy Development is developing a solar power project in Tay Ninh province with capacity of 48MW and total investment of $66 million, which is expected to come into operation mid this year.
Gulf Energy Development is the third largest power company in Thailand. After a $733-million IPO last year, Gulf Energy Development said that it was carrying out researches on projects in neighbouring countries such as Myanmar, Laos and Vietnam.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.