NSH Petro makes a new breakthrough in investment and development.

Nam Song Hau Petroleum Trading and Investment Joint Stock Company (NSH Petro, headquartered in Mai Dam town, Chau Thanh district, Hau Giang province) operates in multiple sectors, with its focus remaining on the production, distribution, and logistics of petroleum products.

Mr. Mai Van Huy (left) and Mr. Ranjit Thambyrajah at the signing ceremony.

On the afternoon of February 27th, at the headquarters of the Hau Giang Provincial People's Committee, Mr. Dong Van Thanh, Chairman of the Hau Giang Provincial People's Committee; Mr. Truong Canh Tuyen, Standing Vice Chairman of the Hau Giang Provincial People's Committee; Mr. Nguyen Quynh Thien, Vice Chairman of the Tra Vinh Provincial People's Committee; Mr. Dao Van Lung, former Director of the Central Propaganda Department; representatives from departments and agencies of Hau Giang province and Can Tho city; and media representatives attended the signing ceremony for the loan approval between NSH Petro and Acuity Funding, a financial institution from Australia.

Among the guests were Mr. Dominic Balasuriya, Economic Consul of Australia in Ho Chi Minh City; Ms. Quyen Vo, Senior Policy Analyst at the Australian Consulate; Mr. Phuoc Vo, Director of JLL Vietnam, a global real estate services company; Ms. Le Na, Vice President of UOB Bank…

Representatives of NSH Petro and Acuity Funding signed the document.

At the ceremony, Mr. Mai Van Huy, Chairman of the Board of Directors of NSH Petro, and Mr. Ranjit Thambyrajah, Chairman and CEO of Acuity Funding, signed an agreement to provide investment capital for the development of 8 component projects of NSH Petro, divided into 2 phases.

Accordingly, in phase 1, Acuity Funding arranged capital (approximately US$290 million) for the ongoing project with the aim of disbursing funds to pay off bank debts, tax debts, provide working capital, and upgrade existing facilities for three NSH Petro projects in Mai Dam (Hau Giang), Go Cong (Tien Giang), and Tra Noc (Can Tho).

Phase 2 will be implemented immediately after Phase 1. Acuity Funding will continue to provide approximately US$430 million to NSH Petro to implement 5 new plant construction projects in Tien Giang, renovate the Nam Viet Cai Rang plant (Can Tho), increase working capital, and support the completion of mixed-use projects in Dong Phu (Hau Giang), Phong Dien (Can Tho), etc.

These credit financing packages, implemented in 2024, are stable and long-term, lasting 20 years (with an extension period of up to 3 years), ensuring a solid foundation and creating a stronger breakthrough for NSH Petro.

Mr. Truong Canh Tuyen speaks at the signing ceremony between NSH Petro and Acuity Funding.

In 2024, the Ministry of Industry and Trade also allocated a minimum total petroleum supply (including imports, production, blending, and purchases from domestic sources) to NSH Petro of 684,926 m3, of which gasoline accounted for 466,186 m3 and diesel 218,740 m3. NSH Petro strived to overcome all difficulties and increase production to ensure the supply of petroleum products to provinces and cities, guaranteeing energy security.

Acuity Funding is a global private credit institution from Australia, a member of the Worldwide Interbank Financial Telecommunication Organization (SWIFT), with over 40 years of experience and a presence in the Vietnamese market for over 9 years. Acuity Funding has the capacity to provide, coordinate, and manage over US$100 billion worth of projects in 35 countries, particularly in the Asia-Pacific region.

Leaders at all levels attended the ceremony.

In addition to its partnership with NSH Petro, Acuity Funding, with the support of the Australian government and green financing sources, will also expand its cooperation and support for public, public-private partnership (PPP), and private projects in many provinces and cities. Acuity Funding will work alongside other Vietnamese businesses with the aim of bringing benefits to the community, promoting sustainable development, and preserving the environment.

Speaking at the ceremony, Mr. Truong Canh Tuyen expressed his deep gratitude to the Australian Government and partners from Australia. He highly appreciated the outstanding efforts of NSH Petro and Acuity Funding in accelerating the completion of the cooperation agreements as stipulated. Mr. Tuyen hoped that the cooperation between NSH Petro and Acuity Funding would continue to open up many new and better investment opportunities in the near future…

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