HANOI: Conglomerate Trung Nam Construction Investment JSC plans to sell about US$500mil (RM2.27bil) in bonds in the next three years, while considering a listing on the Vietnam stock exchange to help fund its various energy and infrastructure projects.
The company, more popularly known as Trungnam Group, will require huge funding for its projects through 2030, chief executive officer (CEO) Nguyen Tam Tien said.
These include onshore and near-shore wind power projects that will almost triple its renewable energy capacity by 2026 from the current 1.6 gigawatts of mostly wind and solar energy, according to deputy CEO Do Tu Anh.
Trungnam will also join the bidding for a 1,500 megawatt liquefied natural gas (LNG) power project in the southern-central province of Ninh Thuan next year and may partner with a foreign investor, Tu Anh said, adding that the company is also in talks with overseas LNG suppliers.
Vietnam plans to double its power capacity to about 150 gigawatts by 2030, with wind, solar and other types of green energy representing nearly a third, compared with 14% currently. — Bloomberg
