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PetroVietnam joint ventures with leading Argentina company to develop wind power projects
PetroVietnam Power Corporation (PV Power) and Industrias Metalurgica Pescarmona S.A.I.C.y F (IMPSA) from Argentina signed a definitive agreement in Hanoi on September 30 for manufacture and development of wind and hydro-power projects.
As agreed, PV Power, a member of the Vietnam Oil and Gas Group (PetroVietnam) and IMPSA, Argentina's leading company that has invested, manufactured and supplied equipment for wind and hydro power projects all over the world, will contribute capital to set up a joint venture to produce and commercialise wind and hydro power equipment; develop and manage power projects, supply maintenance and repairing services for wind and hydro power equipment and projects.
The two sides have also agreed to study the possibility of setting up a joint venture to build a factory specialising in manufacturing wind and hydro power equipment in central Binh Thuan province for domestic demands and exports to the Asia-Pacific.
One month earlier, PV Power and IMPSA singed a Memorandum of Understanding on developing a wind power plant of 1,000 MW on 10,000 hectares in Binh Thuan province. Total investment for the project is put at US$2.35 billion and construction will be made within five years.
ND
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