Malaysia’s Toyo Ink Group has been finalising its last four agreements for the commencement of the Song Hau 2 thermal power plant project in Vietnam’s Mekong Delta province of Hau Giang.
According to the firm’s managing director Song Kok Cheong, Toyo Ink has nearly concluded its deals in land rent, coal supply, BOT (build-operate-transfer) and power plant.
The firm has diversified its business portfolio for eight years by investing in the power sector and seeking opportunities in Vietnam, he said.
In 2012, the group was allowed to invest in the 2,00MW plant in the form of BOT for 25 years starting from 2021.
Song said that he hopes his company will receive an investment licence in three months so a joint venture will be set up to gather investments as the firm can afford only 20 percent of total capital.
According to the group’s calculation, the 3.5 billion USD project will generate a revenue of about 970 million USD when it becomes operational in 2021.-VNA
