Exxon Mobil plans to invest $20 billion in Vietnam power project

exx

 

US oil and gas giant Exxon Mobil Corp is preparing to invest around US$20 billion in a gas-fired power complex with the state-owned Vietnam Oil and Gas Group (PetroVietnam), a source from the Ministry of Industry and Trade told Thanh Nien.

The project envisages construction of two power plants with a combined capacity of 6,000 to 6,500 megawatts, according to the source.

It would cover an area of 200 hectares in total, but the locations for the plants have not been revealed.

The mega project could make the United States one of the top four foreign investors in Vietnam along with Japan, South Korea and Taiwan.

US companies have so far this year invested around $10 billion in Vietnam, ranking 7th among top 10 foreign investors in the country.

In 2011, ExxonMobil announced it had made a potentially significant gas discovery off the coast of central Vietnam.

It said it drilled its second exploration off to coast of Da Nang in August 2011 and encountered hydrocarbons, after its first well failed to find anything.

Source : Thanh Nien News | March 18, 2014

Advertisements

About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
This entry was posted in Business, Economy, Global Sourcing and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s