3 firms to join BP-led Vietnam power project
FUKUOKA - Kyushu Electric Power Co. said Wednesday it and two other firms will join a
project led by BP PLC to build a thermal power plant in Vietnam so that it can go into operation by the end
of 2003 and sell electricity there.
The Fukuoka-based utility said it and major Japanese trading house Nissho Iwai Corp., SembCorp
Industries of Singapore and BP will establish Phu My 3 BOT Power Co. to proceed with the 45 billion yen
project.
The firm will be equally owned by BP, the Singaporean public utility and a consortium consisting of the two
Japanese companies. Each of the three will hold a 33.33% stake, Kyushu Electric said.
The consortium will be owned 80% by Kyushu Electric Power and the remainder by Nissho Iwai.
The plant will have a generating capacity of 716.8 megawatts and sell power to Electricity of Vietnam, a
Vietnamese public power company, under a 20-year contract.
The plant is to be built on a lot some 50 kilometers southeast of Ho Chi Minh City.
Kyodo news - October 10, 2001.
Auto parts maker Denso establishes subsidiary in Vietnam
NAGOYA - Denso Corp., an auto parts maker affiliated with Toyota Motor Corp., said
Wednesday it has established a subsidiary in a Hanoi suburb to manufacture car parts for a Toyota unit in
Thailand.
Denso plans to spend 1.5 billion yen to build a 6,000-square-meter factory and start its operation in
September 2003. The Vietnam-based company aims to hire 200 employees and post annual sales of 3
billion yen in 2007.
Kyodo news - October 10, 2001.
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