Petrovietnam

Hanoi (VNA) - Three subsidiaries of the State-owned Vietnam Oil and Gas Group (PetroVietnam) signed a business cooperation contract (BCC) on August 3 to carry out a chain of gas, power, and service port projects. The three are the PetroVietnam Gas Joint Stock Corporation (PV Gas), the PetroVietnam Power Joint Stock Corporation (PV Power), and the PetroVietnam Technical Service Joint Stock Corporation (PTSC). PTSC General Director Le Manh Cuong said the contract is to implement a chain of gas, power, and service port projects on the basis of business performance-based risk and profit sharing along with the optimisation of financial resources, personnel, and technical infrastructure. In the first phase, the three companies will invest in new infrastructure to supply re-gasified liquefied natural gas (LNG) to the Nhon Trach 1 and Nhon Trach 1A power plants. They will continue to consider investment in the Nhon Trach 5 power project in the second phase, with an expected capital … [Read more...] about PetroVietnam subsidiaries ink deal on projects

Accordingly, the total investment is estimated at roughly VND32.5 trillion ($1.4 billion). The two thermal projects will be built in Ong Keo Industrial park, Phuoc Khanh commune, Nhon Trach district, Dong Nai province. With its favourable location and solid infrastructure of the Southern key economic zone, the province of Dong Nai has become the focus of attention of property developers for years. … [Read more...] about PV Power to invest and build Nhon Trach 3 and Nhon Trach 4 thermal power plants

Hanoi (VNS/VNA) - Twenty-five companies have entered the “one-trillion-dong profit club” for January-June, despite the economy being ravaged by the COVID-19 pandemic. Leading the chart is residential real estate firm Vinhomes JSC – a member of conglomerate Vingroup JSC. Vinhomes in the first six months recorded 11.45 trillion VND (490.2 million USD) of post-tax profit, up slightly from last year’s figure, though post-tax profit in the second quarter dropped 55 percent year-on-year to 3.8 trillion VND. The real estate company attributed the growth of post-tax profit in January-June to successful sales of real estate projects, especially in the first quarter when coronavirus hardly had any impact on the Vietnamese economy. The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) ranked second with a six-month post-tax profit of nearly 8.8 trillion VND. The figure was down 3 percent year-on-year. Five companies which had … [Read more...] about ‘One-trillion-dong profit club’ led by Vinhomes JSC