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- MSX-listed industrial firms shine following signing of Oman-India CEPA
- Visa partners with Aldar to complete first end to end voice-enabled agentic payment in the region
- UAE accelerates toward 2026 with unmatched financial and digital strength
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- NBB signs deal with Procural to boost digital procurement capabilities
- Basrec partners with Lumofy to build future-ready workforce
- Burjeel Holdings appoints Dr Shamsheer Vayalil as CEO too
- Alba contains industrial fire safely
- ADNOC secures $2bn K-Sure-backed green projects funding
20/01/2016 07:39 AST
A consortium of Saudi Arabia's Acwa Power and South Korea's Taekwang Power Holdings has signed a $2.2 billion thermal power plant investment agreement with Vietnam, Acwa Power said on Tuesday.
The pact comes as Vietnam faces a shortage in power supply amid the developing country's ever-increasing demand for electricity to fuel economic expansion, which hit a five-year high of 6.7 per cent in 2015.
The 1,200-megawatt Nam Dinh 1 thermal power plant will be built on a build-operate-transfer basis for 25 years in the northern province of Nam Dinh, Acwa Power said in a statement on its website.
"This agreement is an important stepping stone for our first project in Vietnam," said Rajit Nanda, Chief Investment Officer of Acwa Power.
It is unclear how much each firm will invest.
The project is scheduled to start in mid-2016 after eight years of negotiations and will use coal provided by state coal mining group Vinacomin, Vietnam's trade ministry said in a Tuesday statement on its website.
Vietnam is expected to start importing coal next year as rising demand for power exceeds domestic supply, and since 2010 it has been a net consumer of oil, with demand growing 7.5 percent annually in the 20 years ended 2013, outpacing China at 6.5 per cent, ANZ said in a report last year.
Last year, Vietnam's coal imports jumped 125 per cent to 6.96 million tonnes, while exports dropped 76 percent to 1.7 million tonnes, extending the annual export downtrend of about 10 percent a year that began in 2010, customs data showed.
Trade Arabia
16/06/2015
The Board of Directors of National Gas and Industrialization Co. has recommended the distribution of dividend to the shareholders for the period The second quarter of fiscal year 2015 as following:
Tadawul
05/02/2015
Saudi Arabia's gas company said on Wednesday it will soon end a shortage in the kingdom. The shortage of gas cylinders, used for cooking, in Jeddah and nearby cities has pushed up prices to 100 riya
Reuters
15/09/2014
The Board of Directors of National Gas and Industrialization Co. has recommended the distribution of dividend to the shareholders for the period The third quarter of financial year 2014 as following:
Tadawul
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.36 | -0.01 (-0.30 |
| ACWAPOWER | 192.00 | -2.50 (-1.29 |
| DEWA | 2.77 | 0.00 (0.00 |
| SAUDIELECTRICITY | 14.14 | -0.01 (-0.08 |
| EMPOWER | 1.56 | -0.03 (-1.89 |
22/12/2025
Visa and Aldar have announced a strategic collaboration that marks the first live implementation of Visa Intelligent Commerce in the region, introducing end-to-end, voice-enabled agentic payment expe
Khaleej Times
22/12/2025
The National Bank of Bahrain (NBB) has signed a strategic agreement with Procural, a Bahrain-based digital procurement and tendering platform.
The collaboration supports NBB's ongoing digita
Trade Arabia
22/12/2025
Bahrain Ship Repairing & Engineering Company (BASREC) has signed a strategic agreement with Lumofy, an AI-powered talent development and competency management platform, as part of its commitment to a
Trade Arabia
22/12/2025
Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has announced that its Board of Directors has approved the appointment of Dr Shamsheer Vayalil as Chief Executive Off
Trade Arabia
22/12/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has swiftly contained an industrial fire that broke out at a power rectiformer in the morning of December 19, a company st
Trade Arabia
Financial Information Co.
Saudi Arabia