EXIM Thailand Finances Sermsang Power Corporation Groups Solar Power Plant Project to Promote Thai Investment in CLMV.

Stocks and Financial Services Press Releases Thursday April 4, 2019 13:39
Bangkok--4 Apr--EXIM BANK

EXIM Thailand provided a credit facility worth 35 million US dollars to Sermsang Power Corporation Public Company Limited to finance the construction of a solar power plant with a generating capacity of 50 MW in Binh Nguyen, Vietnam.

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), jointly with Mr. Varut Tummavaranukub, Chief Executive Officer of Sermsang Power Corporation Public Company Limited (SSP), recently signed a credit facility agreement at EXIM Thailand's Head Office to render a credit facility worth 35 million US dollars to SSP and Truong Thanh Quang Ngai Power and High Technology Joint Stock Company (TTQN), SSP's subsidiary established in Vietnam, for the construction of a solar power plant in Binh Nguyen province of Vietnam with an aggregate production capacity of approximately 50 MW.

Having realized Vietnam's high potential with a frog-leap economic growth and rapid industrial expansion, EXIM Thailand has pioneered with the private sector in expanding Thai investment in renewable energy business in Vietnam. Vietnam's robust economic growth prospects have pushed up its demand for electricity with an approximate annual growth of 10% over the next five years. Power generation from such renewable energy as solar, wind and biomass has accordingly been regarded as viable alternative sources to cope with electricity shortage and enhance the country's energy security in the long run. The Vietnamese government has a policy in place to liberalize renewable energy business with relaxation of relevant rules and regulations and offering of incentives to attract greater foreign direct investment in renewable energy business. Vietnam is thus a high potential market with abundant opportunities for foreign investors including those from Thailand.

"EXIM Thailand is ready to work alongside Thai entrepreneurs in their business expansion endeavors beyond Thailand especially in the CLMV with provision of an array of products and services from advisory to credit and insurance facilities to hedge their trade and investment risks. This is in line with our strategy to connect Thailand to the world through international trade and investment toward Thailand and Asia's sustainable economic development," added Mr. Pisit.

Latest Press Release

EXIM Thailand Joins Hands with Public and Private Alliances in Online Business Matching between Thai SME Exporters and Importers in CLMV and Other ASEAN Countries

Export-Import Bank of Thailand (EXIM Thailand) has collaborated with Bank for Agriculture and Agricultural Cooperatives (BAAC), Thailand Institute of Scientific and Technological Research (TISTR) and such affiliated network partners from the public and...

Resilient ILM made profit in Q2/2020, despite the almost 2-month store closure

ILM announced its first half of the year 2020, generating total revenue over 4 billion baht with a gross profit margin of 44.1%, after focusing on the product mix strategy to cope with COVID-19, while consumer behavior is getting more in favor of house...

SET market report for July 2020

The Stock Exchange of Thailand (SET) Index at end-July closed at 1,328.53 points or a 0.8 percent decline from the previous month with various factors weighed on investors’ sentiments includingUS-China conflict, concerns over the second wave of...

AIS earnings in Q2 drop due to COVID-19. Careful cost management yields profit growth.

AIS reported its Q2 earnings showing net profit of7,235million baht equal to a decline of6.7%compared YoY, but grew3.3%compared to Q1 as a result of strict cost control. Total revenue fell 4.1% to 42,256 million baht. The COVID-19 pandemic already...

Thailand’s Eastern Economic Corridor Promotes Genomics Project as Center of Medical Hub

Thailand, already famed for its world class hospitals and success combating coronavirus, aims to enhance its role as a global medical hub by establishing a Thailand Genomics Sequencing Center in the country’s high-tech Eastern Economic Corridor...

Related Topics