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BUSINESS IN BRIEF 28/12   2008-12-28 - VOV, VNA

A Vuong power plant’s turbine No2 starts operation 

The second turbine group of the A Vuong hydro-electric power plant was connected to the national power grid on December 28, three months ahead of schedule. 

The turbine group, with a design capacity of 105MW, was officially put into operation after a test run on December 20. The first 105MW turbine group was connected to the national power grid on October 11, 2008. Once the 210MW plant operates at full steam, it will generate 815 million kWh per year for the country.  

Construction of the VND3.9 trillion plant began on August 31, 2003 by Infrastructure Development and Construction Corporation (Licogi), Hydraulic Construction Corporation No 4 (Hyco4), Lung Lo Construction Company, and 45.3 Machinery Installation Joint Stock Company.  

Its equipment was supplied by Japan’s Sumitomo, Russia’s Power Machine, Japan’s Melco and Vietnam Machinery Installation Corporation (LILAMA).  

Vietnamese paper mill makes debut in Laos 

An inaugurating ceremony of a paper and pulp production factory was held in Huaphanh province in Laos on December 24 with the participation of representatives from the provincial authorities and the Vietnamese embassy in Laos. 

The US$2 million mill, the first of its kind in Laos, has an annual capacity of 36,000 tonnes of pulp. It is expected to generate jobs for 300 Lao and 60 Vietnamese labourers and pay around US$2 million tax each year to the province.  

This is the second project funded by Bac Ninh-based Long Van private company, after a joint venture to process agro-forestry products for export in Lao province of Sam Nua in December 2000. 

PetroVietnam, Can Tho target comprehensive cooperation 

The Vietnam National Oil and Gas Group (PetroVietnam) is planning to build fertiliser warehouses and a network of distribution in the Mekong Delta city of Can Tho .

The scheme is part of a comprehensive cooperation deal signed between the group and Can Tho city on Dec. 28.

PetroVietnam will consider the construction of office buildings, finance and insurance centres and residential areas in Can Tho - the second largest city in the Mekong Delta region.

In addition, the group will help Can Tho seek other investors both at home and abroad to engage in the city’s development projects.

PetroVietnam previously inaugurated a liquefied gas depot – the largest of its kind in the region - and a nitrogenous fertiliser storage facility at the city’s Tra Noc 2 industrial zone.


New industrial zone launched in Hai Phong City 

The construction of an 800-ha industrial zone began in An Duong district, Hai Phong on Dec. 28, which is the first joint venture between the northern Vietnamese city and the Chinese city of Shenzhen .

The An Duong IZ, the largest in Hai Phong so far, will be dedicated to clean industries, such as mechanical manufacturing, electronics, garments and the production of consumer commodities for export.

The first phase of construction will focus on infrastructure and production facilities covering an area of 200 ha, is expected to finish by 2012 at an estimated cost of 200 million USD.

When completed, An Duong is expected to draw between 4 and 5 billion USD in investment and provide jobs for some 50,000 workers.

Other news

No delay in personal income tax law, house leaders say   2008-12-28

Vietnam’s economy: one year, two crises   2008-12-28

Electronics industry mulls ways to defeat recession   2008-12-28

Vietnam to install black boxes at gas stations   2008-12-28

Koreans hope to up Lao Cai investment   2008-12-28

Businesses need support to ride out stagnation   2008-12-28

PM3-Ca Mau gas pipeline and two power plants inaugurated   2008-12-27

Vietnam lures over 64 billion USD in FDI in 2008   2008-12-26

Vietnam’s economy in 2009: how to fly in bad weather?   2008-12-25

Real estate 2008: hot at first, cold at close   2008-12-25

Black market’s exchange rate soars to VND17,520/US$1   2008-12-25

Electronic sector grows since joining WTO playground   2008-12-25

Vietnam, Japan ink economic partnership deal   2008-12-25

BUSINESS IN BRIEF 25/12   2008-12-25