On the afternoon of July 22, Mr. Yukihito Honda, CEO of the Diversified Urban Development Division of Sumitomo Corporation (Japan) proposed to Prime Minister Pham Minh Chinh about investing in the Van Phong 2 Gas Power Plant Project.
Receiving the proposal, the Prime Minister welcomed the project's conversion to liquefied natural gas (LNG). The head of the Government assigned the Ministry of Industry and Trade to coordinate the handling of necessary procedures, and requested the group to study capital within the framework of the Asian Zero Net Emission Community (AZEC).
Prime Minister Pham Minh Chinh highly appreciated Sumitomo's investment projects in Vietnam (Photo: VGP/Nhat Bac)
Sumitomo Corporation is currently the investor of the Van Phong 1 Thermal Power BOT project with a capacity of 1,320 MW, operating in Khanh Hoa. This project started construction in 2019, with a total investment of nearly 2.58 billion USD.
At the meeting, Mr. Yukihito Honda also reported on the progress of projects that Sumitomo is implementing in Vietnam, such as the construction and business of Thanh Hoa Industrial Park infrastructure (phase 1), and participation in the joint venture project of the North Hanoi Smart City. With the project in Hanoi, the group representative expressed his desire to turn the urban area into a symbol of Vietnam - Japan cooperation.
Prime Minister Pham Minh Chinh highly appreciated Sumitomo's investment activities in Vietnam, especially large-scale projects with widespread impacts on socio-economic development. He emphasized that the Vietnamese Government, ministries, sectors and localities will support and create favorable conditions for Japanese enterprises in general and Sumitomo in particular to carry out effective and sustainable investment and business activities.
Regarding the North Hanoi Smart City project, the Prime Minister requested the group to coordinate with Vietnamese partners to implement it seriously, quickly, in accordance with legal regulations, in the spirit of equality, harmonious benefits, shared risks and combining Vietnamese and Japanese cultures.
In addition, the head of the Government also asked Sumitomo to continue actively participating in urban railway projects in Ho Chi Minh City.
Mr. Honda then affirmed that he would promote the projects to be implemented quickly, seriously, effectively and sustainably as directed by the Prime Minister.
Sumitomo Corporation is a large Japanese conglomerate operating in the fields of manufacturing, energy, smart cities, electronic components, etc. As of March 31, the corporation had equity of 3.2 billion USD, profit of 3.9 billion USD, with about 83,300 employees worldwide. Sumitomo is currently ranked in the Fortune Global 500.
In Vietnam, the group has been present for nearly 70 years, notably with industrial parks Thang Long 1, 2, 3, Thanh Hoa and Quang Tri industrial parks (joint venture), participating in EPC construction of urban railway project No. 1 in Ho Chi Minh City, package No. 2 and Van Phong 1 thermal power project. Total investment capital in industrial parks in Vietnam to date is more than 6 billion USD, creating nearly 100,000 jobs.
Source: https://vtcnews.vn/ong-lon-nhat-ban-de-xuat-dau-tu-du-an-dien-khi-van-phong-2-ar955779.html
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