In just eight years Nhon Trach 2 PV Power has solidified its position in Vietnam's electric and gas industry.
In it's eight years of formation and development, with suitable direction and significant changes, PV Power Nhon Trach 2 (NT2) has confirmed it's position in the electricity and gas industry, guaranteeing energy security and assisting the country’s economic development.
Established in 2007 with the goal of being an investor and operations manager of the Nhon Trach 2 power project, with a capacity of 750MW, NT2 has now become a stable, safe, effective and eco-friendly electricity supplier.
NT2’s perfect location in the Southern Key Economic Zone (Ho Chi Minh City, Binh Duong, Dong Nai, and Ba Ria Vung Tau), has seen it maintain capacity to meet the region’s electricity demand.
By the end of 2015, NT2 had accomplished its objectives: reaching a record 5.499 billion kWh in commercial electrical output (or 128 per cent of its annual plan) and exceeding the total national electricity output of 20 billion kWh after only four years of commercial operations. Accumulated electrical output as at mid-May 2016 was 22.46 billion kWh. NT2’s profit after tax in 2015 stood at VND1.142 trillion ($51 million), or 82 per cent of the 2015 annual plan. NT2 predicts an increase to its 2015 dividend, to 26 per cent, after being reviewed by its Annual General Meeting on March 25.
NT2’s success in 2015 received priceless recognition, such as being ninth in the Top 500 highest growing Vietnamese businesses (the Fast 500) and 123rd in the Top 500 largest Vietnamese businesses (the VNR500). It was honored to be one of the ten businesses receiving a Vietnamese General Confederation of Labor medal and certification as an “Enterprise for Workers”. In January 2016 NT2 received an emulation flag from the Ministry of Industry and Trade, while Mr. Hoang Xuan Quoc, NT2’s general manager, was honored to be named one of the ten best businessmen and petroleum managers in 2015.
With its impressive manufacturing business, after only half a year of listing its stocks on HoSE NT2 had become a high liquidity stock and a large cap on the VN30-Index. Thanks to its steady high price, many shareholders hold NT2 stocks for the long term.
Looking to 2016, national load demand will increase 10 per cent, which marks a favorable time for NT2’s development. It will focus on its investment in order to enhance its electricity generation capacity and production efficiency, which will provide long-term benefits for shareholders and investors.
NT2 has steadily affirmed its position in the competitive electricity market and been one of the key national electricity network members, which provide 3-3.5 per cent of the country’s electricity. NT2 has confirmed its brand as an important, trustworthy and secure independent power producer in the national electrical network, deserving of its role as a pioneer in the power, oil and gas industry.
Doctor Hoang Xuan Quoc, General Director of the PetroVietnam Nhon Trach 2 Power JSC, gives direct command from the Control Room of the power plant.