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

Korn Ferry 2020 Salary Forecast Estimates 5.0% Salary Increase for Thais

A forecast issued today by Korn Ferry (NYSE: KFY) estimates that salary growth for Thailand is at 5.0 percent for 2020, which is slightly lower compared to the average salary increment forecast for Asia at 5.3 percent. After accounting for an inflation...

Asia-Pacific becomes largest destination and source of foreign direct investment

For the first time, the Asia-Pacific region has become the largest destination and source of foreign direct investment (FDI) globally, according to a new report launched by the United Nations Economic and Social Commission for Asia and the Pacific...

KTC constantly provides privileges and invites cardmembers to shop for books at the end of the year with tax deduction receipts.

Mr. Terapoj Chokeanantang, Senior Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, continuously extends privileges for credit cardmembers who are readers with an invitation for end of year book shopping with 2019 tax...

TMB Bank reports successful fundraising for the merger deal with Thanachart Bank TMB CEO affirms missions to strive to improve Thais financial wellbeing after the merger

TMB Bank reported successful fundraising thanks to shareholder and investor confidence in the ongoing merger with Thanachart Bank (TBANK). TMB Chief Executive Officer Mr. Piti Tantakasem appreciated their supports and vowed to proceed with merger-related...

KBank partners Lazada to provide online lending for sellers, enabling more inclusive financial services through eCommerce. Customers get loan approved in one minute.

KASIKORNBANK (KBank), one of Thailand's leading banks, is partnering with leading Southeast Asia eCommerce company Lazada to provide online lending services for the Thai sellers on the eCommerce platform. This will enable the sellers to access financing...

Related Topics