Jakarta (VNA) – Indonesia strives to raise combined capacity of geothermal projects to 1 gigawatt (GW) in 2030, according to the country’s Ministry of Energy and Mineral Resources (EMR). Based on the official data, the geothermal potential in Indonesia may reach 28.5GW. However, the total capacity of geothermal power plants across the country only stood at 2.1GW. Earlier, Minister of Energy and Mineral Resources Arifin Tasrif stated that the ministry continues to attract investors to invest in the new renewable energy sector through the cost recovery contract scheme in the geothermal sector. He noted that the geothermal sector’s development poses a higher risk than other sectors, so incentives are needed to encourage investment in the field. Executive Director of the Institute for Essential Services Reform Fabby Tumiwa noted there were a number of obstacles in developing geothermal energy in the country, such as high investment costs due to high exploration and … [Read more...] about Indonesia to raise capacity of geothermal projects to 1GW
In 2015 JICA funded a project carried out by the Osaka city Department of Construction and Sekisui Chemical to upgrade pipes under the Cống Quỳnh – Nguyễn Cư Trinh roundabout in District 1 using trenchless technologies. … [Read more...] about Japan provides HCM City non-refundable grant of $16.8m to upgrade sewer system
Owners of Cocobay Da Nang condotels propose solution to profit problem Many owners of units at the Cocobay Da Nang condotel project have proposed to convert profits owed by Thanh Do Company into land or houses at Cocobay, according to a statement from Thanh Do. … [Read more...] about Will new legal document bring investors back to condotel market?
Hanoi (VNA) – Credit institutions and foreign banks will be allowed to grant loans to some prioritised borrowers in excess of lending limits regulated by law beginning next month. Under Decision No.13/2018/QD-TTg, which will take effect May 1, the Prime Minister can consider approving loans exceeding credit limits in electricity, coal, oil and gas, transport and other prioritised industries, based upon the Prime Minister’s instructions. According to the State Bank of Vietnam, the new regulation seeks to help lenders and borrowers develop initiatives to carry out their projects, which are important to the nation’s socio-economic development. To qualify for the loans, borrowers are required to prove they possess no non-performing loans in the three consecutive years before the loan application date, while their debt ratio must be less than three times their equity capital, according to their latest quarterly or yearly financial statements. Their projects must also … [Read more...] about Excess loans to be permitted from May 1
HCM City (VNA) – The interest rates were kept stable in the first six months of 2018 while the lending rates for priority fields have decreased. The information was revealed at a meeting to review the banking activities in the first half of 2018 in Ho Chi Minh City on June 13. State and commercial banks cut about 0.5 percent per year in interest rates for consumers with good credibility. At current, interest rates of short-term loans stand at 6-9 percent while those of mid- and long-term loans are about 9-11 percent. Those with high credibility and financial capability could enjoy rates of 4-5 percent per year. According to Vice Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong, to ensure the liquidity of credit organisations and stabilisation of the monetary and forex market, the central bank will focus on the flexible management of open market operations in line with market developments and available capital of credit organisations. The bank will make it … [Read more...] about Interest rates kept stable in first half of 2018