3:39:07 PM | 17/9/2008
Vietnamese Dien Quang Joint Stock Company has recently signed a joint venture agreement with Venezuelan PDVSA Industrial Company to build a plant producing energy-saving compact bulbs in the South American country.
Of the total investment worth US$234 million, the Venezuelan firm will hold a 70 per cent stake and the Venezuelan partner will own the rest of 30 per cent.
The two sides are now speeding up works in an effort to put into operation the 74-million-bulb-per-year plant in Nov of this year.
Vietnam National Oil & Gas Group (PetroVietnam) and Venezuela’s state-run Petroleos de Venezuela S.A (PDVSA) are negotiating for five oil and gas projects worth multi billion dollars. (Vietnam Economic Times)
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