REE to Invest US$250Mln in Power Projects
Shareholders of the Refrigeration Electrical Engineering Corp. (REE) have agreed to invest US$250 million in building thermo-power plants with capacities ranging from 300-600MW.
REE along with its partners will establish the REE Electricity Joint-Stock Company in order to carry out the power projects.
REE shareholders have also agreed to develop industrial parks with an initial investment of VND680 billion (US$42.76 million) in the southern economic hub of Ho Chi Minh City and Mekong Delta Long An Province.
In addition, REE also plans to build offices for lease with initial capital of US$20 million.
By the end of December this year, REE’s total area of offices for lease will reach 70,000sq.m. REE will also issue an additional 10 million stocks to mobilize capital for its projects.
Vietnam Economic Times
Vietnamese
