RoK Group wants to become PV Power’s strategic investor
Teakwang Industrial Co (Taekwang Ind) of the Republic of Korea (RoK) said it wants to become a strategic investor of PetroVietnam Power Corporation (PV Power).
Hanoi (VNA) – Teakwang Industrial Co (Taekwang Ind) of the Republic of Korea (RoK) saidit wants to become a strategic investor of PetroVietnam Power Corporation (PVPower).
At a workingsession with PV Power Chairman Ho Cong Ky in Hanoi on March 13, President andCEO of Teakwang Power Holdings (TKPH) Sang Rok Kim said Taekwang Ind was one ofthe first RoK groups to invest in Vietnam and has operated in the country formore than 23 years.
Established in2008 as a subsidiary of Taekwang Ind, TKPH aims to invest in electricityprojects in Vietnam, he said.
TKPH is the maininvestor of the 1,200 MW Nam Dinh Build-Transfer-Operation (BOT) Thermal PowerPlant which is under financial arrangement, Kim said.
Taekwang Ind hascompleted assessments for and field-trips to PV Power plants, he said, notingthat that the group hopes to become a strategic investor of PV Power, toward along-term goal.
ApplaudingTaekwang’s desire, Ky highlighted PV Power’s advantages such as its environmentallyfriendly and modern equipment and healthy financial structure. PV Power wantspartners like Taekwang Ind, he said.
The two sidesagreed to enhance cooperation and carry forward each side’s strength, supportingeach other in development.
Founded in 2007,PV Power is fully-owned by the Vietnam National Oil and Gas Group(PetroVietnam). It operates eight power companies and plants with a totalcapacity of 4,208.2 MW, capable of supplying about 21 billion kWh per year, or12 percent of the country’s total power output.
The corporationearned approximately 31 trillion VND (1.36 billion USD) in revenue in 2007. Itspre-tax profit exceeded 2.5 trillion VND (110 million USD), 83 percent more thanthe early target.-VNA
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At the working session. (Source: www.pvpower.vn) 
