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April 4, 2017

Released at: 12:00, 04/04/2017 PRESS WATCH

April 4, 2017

VET's daily round-up of news from Vietnamese media for April 4.

US agency to finance solar power project in Ninh Thuan

The US Trade and Development Agency (USTDA) will grant financial support to the central Quang Ngai province-based Thien Tan Group to conduct a feasibility study for a project to build five solar power plants in the south-central province of Ninh Thuan. Construction of the five plants is expected to be completed in 2020.

India firm eyes solar energy project in Binh Phuoc

India’s Tata Group conducted a field trip to southern Binh Phuoc province on April 3 in order to lease 200 ha for its 100MW solar power plant. Tata is the third firm, following Alphanam Group and Electricity of Vietnam, to eye the province’s solar energy sector.

KKR pumps additional $250 million into Masan Group

Global investment firm KKR, through its Asian Fund II, has reached an agreement to invest $250 million in Masan Group Corporation and its branded meat platform Masan Nutri-Science. Masan Group announced on March 3 that this is KKR’s second investment in the group after its two-round financing in Masan Consumer worth a combined $359 million in 2011 and 2013.

Pepper products to be traded on VN Commodity Exchange

Black and white pepper coded H.S 090411 and black and white ground pepper coded H.S 090412 will be traded on the Vietnam Commodity Exchange under the Ministry of Industry and Trade’s Decision No.1071/QD-BCT issued recently.

Korea’s T’way Airlines flies to Da Nang

T’way Airlines, South Korea’s best low-cost carrier, opened flights on April 2 connecting Daegu city and the central city of Da Nang. The opening of the air route is expected to increase the flow of tourists between Da Nang and Daegu, South Korea’s fourth-largest city.

Thai group pours funds into oil refinery

Thailand’s Siam Cement Group (SCG) has become a major investor in Vietnam’s oil refinery sector after acquiring 25 per cent of the Long Son Petrochemicals Company from Qatar Petroleum. The $36.1 million transaction will increase SCG’s holding in Long Son from 46 per cent to 71 per cent while the remaining 29 per cent is held by the State-owned Vietnam Oil and Gas Group.

BMI Research: A “dark shadow” looms over mining industry

A note from BMI Research that was sent out to clients recently stated that a “dark shadow” looms over Vietnam’s mining industry, the fourth-biggest contributor to national GDP. The industry shrunk 11.4 per cent during the first quarter of this year, shaving a whopping 2.5 percentage points off GDP.

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