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

Bangkok Bank reports third quarter 2019 net profit of Baht 9,438 million

In 2019, the Thai economy is forecast to expand at a slower rate than in 2018. Slowing global growth, intensifying trade tensions and the unrelentingly strong Baht have weighed on both exports and tourism. Meanwhile, private consumption and private...

KTC declares 4.205 billion in first nine months net profits. Receivables growth hit an all-time high in the past two years with plans to expand member base and fortify quality of ports.

KTC announces net profits for the first nine months with a 8 percent growth at 4.205 billion. Budget will be allocated to stimulate marketing activities and expand member base. Policy to expand member base and in main business caused portfolio to have...

Witnessing Thai Peoples Lack of Financial Discipline, GoBear Seizes Opportunity to Organize Seminar on Financial Health GoBear Fin Detective #สืบฟินวินทุกเรื่องเงิน And Releases Latest Survey on What Causes Thais Unsuccessful in Achieving Financial Go

GoBear Thailand, Asia's leading financial supermarket, has invited celebrities and financial experts to participate in the seminar "GoBear Fin Detective #สืบฟินวินทุกเรื่องเงิน," aiming to encourage Thai people to pay attention to their financial health,...

TBANK Q3 2019 profit reaches record launches ThanachartDRIVE

Thanachart Bank Public Company Limited (TBANK) reported a consolidated net profit of 4,054 million baht for the third quarter of 2019, improving 12.86% from the previous quarter. Mr.Praphan Anupongongarch, Chief Executive Officer and President of...

Photo Release: EXIM Thailand and EXIM Bank Malaysia Discuss Ways to Promote Thai and Malaysian Trade and Investment

Mr. Pisit Serewiwattana (third left), President of Export-Import Bank of Thailand (EXIM Thailand), and EXIM Thailand's management welcomed Dato' Shahrul Nazri Abdul Rahim (third right), President and Chief Executive Officer of Export-Import Bank of...

Related Topics