Gov’t Okays SCIC’s Investment in Oil & Gas Projects
The State Capital Investment Corporation (SCIC) has recently received in-principle approval from the Vietnamese Government to invest in oil and gas projects together with PetroVietnam.
Under the agreement approved by Deputy Prime Minister Hoang Trung Hai, the SCIC is tasked to work with PetroVietnam to reach consensus in cooperation form and capital contribution rate.
Last year, Vietnamese Deputy Prime Minister Nguyen Sinh Hung also allowed the SCIC to invest in electricity projects managed by the EVN, with each holding 51 per cent capital in each project, to speed up the construction of power plants as scheduled.
The corporation will also contribute capital to setting up joint stock companies to invest in hydro-power and thermal-power plants, heading the target to build the first nuclear power plant in Vietnam by 2010. (Investment)
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