Vietnam's top forwarder Gemadept Corporation will start building a $410 million deep-water container port in early 2008 to handle more transhipments, its chief executive said on Thursday.
"So far transhipments are carried out in Singapore, Taiwan or Hong Kong but when we put the port into operation, ships from the United States could come directly to Cai Mep port for transhipments to regional countries," Gemadept CEO Do Van Minh told reporters.
The government has identified Cai Mep container port as one of five ports to be built in the southern province of Ba Ria-Vung Tau by 2010 to serve the region which handles 70 percent of containers in the country.
The five ports will be used when the government relocates Saigon Port and related facilities from Ho Chi Minh City over the next few years.
"We will strive to start construction in early 2008 and complete it in 2010," Minh said at a conference in Hanoi.
He did not say how much Gemadept would invest in the port which is designed to have a depth of 16 metres.
Minh said Gemadept has been building two more ports in the central region, the $36-million Dung Quat port and the $230-million Nhon Hoi port, each to get a 55 percent of investment from Gemadept.
Shares in Gemadept traded up 0.8 percent to 126,000 dong ($7.8) on Thursday, valueing the company at $336 million.
The Ho Chi Minh City-based company operates ports, provides logistics services including container transport and acts as an agent for several dozen foreign shipping lines.
Its two warehouses of 40,000 square metres are Vietnam's largest facility for stocking coffee.
Minh said Gemadept has also been diversifying its business into property and financial investment.
Source: Reuters
Showing posts with label Infrastructure. Show all posts
Showing posts with label Infrastructure. Show all posts
Thursday, August 30, 2007
Thursday, August 16, 2007
VinaCapital launches infrastructure fund
VinaCapital officially launched Vietnam Infrastructure Limited (VNI), a US $402 million fund dedicated to investment in Vietnam’s rapidly growing infrastructure sector, at a ceremony held in Hanoi this afternoon.
The amount of money would be invested in infrastructure projects in Vietnam in field of energy, traffic system, water supply system and telecommunications, said Mr Don Lam, CEO and Co-Founder of VinaCapital.
The fund would focus its investment in such big cities as Hanoi, Ho Chi Minh City, Da Nang and Can Tho and key economic regions of Vietnam, he added.
Mr William Lean, managing director of VinaCapital said the VNI had bought 3.8% of the shares of the Tan Tao Industrial Park Joint Stock Company (ITACO), valued at nearly US $20 million.
The money was used for infrastructure in Long An province, including a 70-kilometre highway construction from Ho Chi Minh City-based Tan Son Nhat Airport to the centre of the province, a thermo-electric plant and a water supply company.
VNI has also bought 2.4% of the shares of Thac Mo Hydro-Electric Plant, equivalent to nearly US $2 million; and 5.2% of the shares of Ba Ria Thermo-Electric Plant, valued at nearly US $4 million.
Mr Lean added that VNI was also investing in projects to build a highway in Ha Tay province with an investment capital of US $80. The road is 40 metres wide and 24 kilometres long, linking the western part of Hanoi with Son Tay town of Ha Tay province.
At the launching ceremony, VNI signed two memoranda of understanding. The first is an agreement with TRANCO company for the construction of a road in the Hanoi area. The second, with ITACO, is for the development of a 600 MW power plant and supporting coal port.
VinaCapital July 5 listed its fourth fund Vietnam Infrastructure Limited on the Alternative Investment Market (AIM) which is for new and potential firms of the London Stock Exchange (LSE).
The closed-end fund has a size of US $402 million that was mobilised from overseas investors.
After listing, the fund was disbursed US $100 million to invest in hydropower and thermo-power plants. The remaining capital will be used within 12 to 18 months later to buy toll rights in big cities and participate to upgrade local airports into international ones.
With the fourth fund, VinaCapital has managed the amount of some US $1.8 billion investing mainly in Vietnam. The fund manager now also runs three other investment funds in Vietnam - the US $800-million Vietnam Opportunity Fund (VOF), the US $600-million VinaLand, and the US $50-million DFJ VinaCapital L.P. which invests in information technology. The two former funds are now listed on AIM as well.
Source: VNE
The amount of money would be invested in infrastructure projects in Vietnam in field of energy, traffic system, water supply system and telecommunications, said Mr Don Lam, CEO and Co-Founder of VinaCapital.
The fund would focus its investment in such big cities as Hanoi, Ho Chi Minh City, Da Nang and Can Tho and key economic regions of Vietnam, he added.
Mr William Lean, managing director of VinaCapital said the VNI had bought 3.8% of the shares of the Tan Tao Industrial Park Joint Stock Company (ITACO), valued at nearly US $20 million.
The money was used for infrastructure in Long An province, including a 70-kilometre highway construction from Ho Chi Minh City-based Tan Son Nhat Airport to the centre of the province, a thermo-electric plant and a water supply company.
VNI has also bought 2.4% of the shares of Thac Mo Hydro-Electric Plant, equivalent to nearly US $2 million; and 5.2% of the shares of Ba Ria Thermo-Electric Plant, valued at nearly US $4 million.
Mr Lean added that VNI was also investing in projects to build a highway in Ha Tay province with an investment capital of US $80. The road is 40 metres wide and 24 kilometres long, linking the western part of Hanoi with Son Tay town of Ha Tay province.
At the launching ceremony, VNI signed two memoranda of understanding. The first is an agreement with TRANCO company for the construction of a road in the Hanoi area. The second, with ITACO, is for the development of a 600 MW power plant and supporting coal port.
VinaCapital July 5 listed its fourth fund Vietnam Infrastructure Limited on the Alternative Investment Market (AIM) which is for new and potential firms of the London Stock Exchange (LSE).
The closed-end fund has a size of US $402 million that was mobilised from overseas investors.
After listing, the fund was disbursed US $100 million to invest in hydropower and thermo-power plants. The remaining capital will be used within 12 to 18 months later to buy toll rights in big cities and participate to upgrade local airports into international ones.
With the fourth fund, VinaCapital has managed the amount of some US $1.8 billion investing mainly in Vietnam. The fund manager now also runs three other investment funds in Vietnam - the US $800-million Vietnam Opportunity Fund (VOF), the US $600-million VinaLand, and the US $50-million DFJ VinaCapital L.P. which invests in information technology. The two former funds are now listed on AIM as well.
Source: VNE
Tuesday, August 14, 2007
Foreign investors reduce stakes in two companies
Deutsche Bank has announced the sale of 19,560 shares in the Ho Chi Minh City Infrastructure Investment Joint Stock Co, reducing its stake from 5.04 percent to 4.97 percent.
The bank continues to hold nearly 1.5 million shares in the company.
The Cable and Telecommunications Materials Co (SAM) also announced that Wareham Group Ltd’s stake in the company had been reduced from 12.68 percent to 10.51 percent.
Amersham Industries Ltd also now holds 4.2 million shares in SAM, a 7.8 percent stake, 1.66 percent lower than before.
Source: VNA
The bank continues to hold nearly 1.5 million shares in the company.
The Cable and Telecommunications Materials Co (SAM) also announced that Wareham Group Ltd’s stake in the company had been reduced from 12.68 percent to 10.51 percent.
Amersham Industries Ltd also now holds 4.2 million shares in SAM, a 7.8 percent stake, 1.66 percent lower than before.
Source: VNA
Monday, August 13, 2007
HCMC to sell 500 bln dong in urban bonds
An investment fund in Vietnam's Ho Chi Minh City will raise a combined 500 billion dong ($31 million) by auctioning three types of urban bonds later this week, the Hanoi's stock exchange said on Monday.
The Ho Chi Minh City Investment Fund for Urban Development Project told the exchange that it would auction on Thursday a 150 billion-dong bond with maturity on Aug. 29, 2012 and a 200 billion-dong bond for maturity on Aug. 20, 2017.
A third bond to be auctioned on the same day would raise 150 billion dong for maturity on Aug. 20, 2022.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It assigned a Ba3 rating for the country's dong debts.
Source: Reuters
The Ho Chi Minh City Investment Fund for Urban Development Project told the exchange that it would auction on Thursday a 150 billion-dong bond with maturity on Aug. 29, 2012 and a 200 billion-dong bond for maturity on Aug. 20, 2017.
A third bond to be auctioned on the same day would raise 150 billion dong for maturity on Aug. 20, 2022.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It assigned a Ba3 rating for the country's dong debts.
Source: Reuters
Friday, July 13, 2007
VNPT, Vinaconex ‘synergise’ strengths
Viet Nam Post and Telecommunications Group (VNPT) on July 12 signed a strategic partnership agreement with Viet Nam Construction and Import-Export Corp (Vinaconex), forming the country’s largest cooperation deal.
”This is a very notable partnership as it will synergise the strengths and resources from two of the country’s leading companies,” said Vinaconex’s CEO Nguyen Van Tuan.
The two giants committed to using each other’s products and services.
“Partnering with the country’s biggest contractor will help VNPT expand its coverage with our products and services being used at Vinaconex projects,” said VNPT Deputy General Director Nguyen Ba Thuoc.
As Vinaconex expands globally, VNPT will also have an opportunity to reach new markets, he added.
On the other side, Vinaconex will be awarded VNPT infrastructure development contracts.
Vinaconex predicts 2007 revenue will reach 6.5 trillion VND (406 million USD), up 16.4 percent over last year. Pre-tax profit is expected to increase 49.7 percent to 350 billion VND (22 million USD).
VNPT last year posted a revenue of 38.3 trillion VND (2.4 billion USD), up 14.9 percent compared to 2005 and 3.4 percent higher than the company’s initial forecast.
Source: VNA
”This is a very notable partnership as it will synergise the strengths and resources from two of the country’s leading companies,” said Vinaconex’s CEO Nguyen Van Tuan.
The two giants committed to using each other’s products and services.
“Partnering with the country’s biggest contractor will help VNPT expand its coverage with our products and services being used at Vinaconex projects,” said VNPT Deputy General Director Nguyen Ba Thuoc.
As Vinaconex expands globally, VNPT will also have an opportunity to reach new markets, he added.
On the other side, Vinaconex will be awarded VNPT infrastructure development contracts.
Vinaconex predicts 2007 revenue will reach 6.5 trillion VND (406 million USD), up 16.4 percent over last year. Pre-tax profit is expected to increase 49.7 percent to 350 billion VND (22 million USD).
VNPT last year posted a revenue of 38.3 trillion VND (2.4 billion USD), up 14.9 percent compared to 2005 and 3.4 percent higher than the company’s initial forecast.
Source: VNA
Tuesday, July 10, 2007
VNI fund buys 3.8% of Itaco equity
The Viet Nam Infrastructure Limited (VNI) has purchased 3.8 percent of stake of the Tan Tao industrial park joint stock company (ITACO), worth 14.06 million USD.
ITACO, specialising in infrastructure investment and services for industrial zones, is one of the 10 largest companies listed on the Ho Chi Minh Securities Trading Centre.
The has invested in various of parks in the southern key economic region, such as Tan Tao IP in Ho Chi Minh City and Tan Duc IP in Long An province.
Meanwhile, VNI is Viet Nam's first infrastructure investor. It made its debut at the Alternative Investment Market (AIM) on the London Stock Exchange on July 5.
Source: VNA
ITACO, specialising in infrastructure investment and services for industrial zones, is one of the 10 largest companies listed on the Ho Chi Minh Securities Trading Centre.
The has invested in various of parks in the southern key economic region, such as Tan Tao IP in Ho Chi Minh City and Tan Duc IP in Long An province.
Meanwhile, VNI is Viet Nam's first infrastructure investor. It made its debut at the Alternative Investment Market (AIM) on the London Stock Exchange on July 5.
Source: VNA
Friday, July 06, 2007
New Viet Nam fund debuts at LSE
The Viet Nam Infrastructure Investment Fund (VNI) on July 5 made its debut at the Alternative Investment Market (AIM) on the London Stock Exchange (LSE).
The listing marks the first time that a Vietnamese infrastructure fund will see transactions on the AIM and will focus on the areas of energy, transportation, water and telecommunications.
Market experts have predicted that from now until 2020, Viet Nam will require close to 140 billion USD for the development of needed infrastructure projects. The VNI will focus on strategic projects in Ha Noi, Ho Chi Minh City and key economic zones nationwide, including highways, ports, airports, and power plants.
At the AIM, the VNI did earn 402,1 million USD through the issue of 402,1 million one-dollar shares.
Source: VNA
The listing marks the first time that a Vietnamese infrastructure fund will see transactions on the AIM and will focus on the areas of energy, transportation, water and telecommunications.
Market experts have predicted that from now until 2020, Viet Nam will require close to 140 billion USD for the development of needed infrastructure projects. The VNI will focus on strategic projects in Ha Noi, Ho Chi Minh City and key economic zones nationwide, including highways, ports, airports, and power plants.
At the AIM, the VNI did earn 402,1 million USD through the issue of 402,1 million one-dollar shares.
Source: VNA
Thursday, July 05, 2007
Investment firm CII to sell $31 mln of bonds
Ho Chi Minh City Infrastructure Investment Co. (CII) will sell 7-year bonds worth 500 trillion dong ($31 million) next week to help finance water supply and bridge construction projects, state media said on Thursday.
The bonds would carry an annual coupon of 10.3 percent, the Vietnam Economic Times newspaper said, and the partly private Vietnam International Bank and Vietnam International Securities Co. would underwrite the issue.
The proceeds would help finance the $108-million Phu My bridge, a Kenh Dong water supply project costing $74.4 million and the $93-million Thu Duc Water Treatment Plant.
CII did not say if it planned to list the bonds on Vietnam's stock market.
Shares in the firm had risen 2,000 dong to 64,000 dong ($3.97) at 0137 GMT on Thursday, valuing CII at $119 million.
CII invests in urban projects such as roads, bridges, and residential areas. It also provides consultation on financial investment and collects road tolls.
Source: Reuters
The bonds would carry an annual coupon of 10.3 percent, the Vietnam Economic Times newspaper said, and the partly private Vietnam International Bank and Vietnam International Securities Co. would underwrite the issue.
The proceeds would help finance the $108-million Phu My bridge, a Kenh Dong water supply project costing $74.4 million and the $93-million Thu Duc Water Treatment Plant.
CII did not say if it planned to list the bonds on Vietnam's stock market.
Shares in the firm had risen 2,000 dong to 64,000 dong ($3.97) at 0137 GMT on Thursday, valuing CII at $119 million.
CII invests in urban projects such as roads, bridges, and residential areas. It also provides consultation on financial investment and collects road tolls.
Source: Reuters
Saturday, June 16, 2007
Vietnam bank, shipyard join hands to diversify
The state-run Vietcombank and major shipbuilder Vinalines inked a deal Tuesday to make joint investments.
Vietcombank, as the bank is known commonly, agreed to invest in Vinalines’s shipbuilding and seaport construction projects.
Vinalines plans to build two mammoth port complexes in the central Khanh Hoa province and northern Hai Phong city.
The two sides are also looking for more partners for the two projects.
In Khanh Hoa they will build a modern international port at an estimated cost of $169 million. Work is set to start on the first two berths later this year.
Van Phong Port plays a crucial role in the economic zone of the same name covering 150,000ha of land and water surface in the bay.
The other project, the Lach Huyen International Seaport, is expected to cost VND27 trillion ($1.6 billion) for infrastructure and berths. It will serve as an international gateway and a large transit port for the whole of northern Vietnam.
It is designed to accommodate vessels of between 60,000 and 80,000 TEUs (twenty-foot-equivalent units) and have annual cargo throughput of between 50 and 60 million tons when in full perform.
The first two berths are expected to be ready in 2010.
Duong Tri Dung, Vinalines chairman, said the tie-up with the bank was part of the corporation’s diversification strategy as well as equitization process. It planned to enter finance, banking, insurance, securities, electricity, infrastructure, real estate, and tourism.
The group was set to become one of the region’s top maritime groups by 2010 with revenues of more than VND20 trillion ($1.2 billion).
It plans to raise VND51 trillion ($3.2 billion) between 2006 and 2010 to invest in its shipping fleet and upgrade its ports.
This year it targeted to transport 24.8 million tons of cargo – a year-on-year jump of 8%, a record revenue of VND12 trillion ($750 million).
The company plans to purchase 29 more vessels with total capacity of 692,000 DWT (dead-weight-tons).
Vietcombank – the country’s second largest by assets is set to launch its IPO in July or August at the latest and list on the stock market by October, with the second shares auction to be conducted overseas next year. It is in the process to source out strategic foreign investors to participate in managing the structure of the bank.
After going public, the state will hold a 70% stake in the bank and the remaining 30% will go to investors via domestic and overseas IPOs. The bank plans to launch an IPO in Hong Kong or Singapore next year, where stock exchanges have recognized Vietcombank as qualifying under their basic requirements.
By the end of 2006, Vietcombank had assets of VND169.46 trillion ($10.06 billion), up 23.9% on year.
It made a net profit of VND2.47 trillion during the year, up 91.5% year on year, bank figures showed.
Source: Thanh Nien
Vietcombank, as the bank is known commonly, agreed to invest in Vinalines’s shipbuilding and seaport construction projects.
Vinalines plans to build two mammoth port complexes in the central Khanh Hoa province and northern Hai Phong city.
The two sides are also looking for more partners for the two projects.
In Khanh Hoa they will build a modern international port at an estimated cost of $169 million. Work is set to start on the first two berths later this year.
Van Phong Port plays a crucial role in the economic zone of the same name covering 150,000ha of land and water surface in the bay.
The other project, the Lach Huyen International Seaport, is expected to cost VND27 trillion ($1.6 billion) for infrastructure and berths. It will serve as an international gateway and a large transit port for the whole of northern Vietnam.
It is designed to accommodate vessels of between 60,000 and 80,000 TEUs (twenty-foot-equivalent units) and have annual cargo throughput of between 50 and 60 million tons when in full perform.
The first two berths are expected to be ready in 2010.
Duong Tri Dung, Vinalines chairman, said the tie-up with the bank was part of the corporation’s diversification strategy as well as equitization process. It planned to enter finance, banking, insurance, securities, electricity, infrastructure, real estate, and tourism.
The group was set to become one of the region’s top maritime groups by 2010 with revenues of more than VND20 trillion ($1.2 billion).
It plans to raise VND51 trillion ($3.2 billion) between 2006 and 2010 to invest in its shipping fleet and upgrade its ports.
This year it targeted to transport 24.8 million tons of cargo – a year-on-year jump of 8%, a record revenue of VND12 trillion ($750 million).
The company plans to purchase 29 more vessels with total capacity of 692,000 DWT (dead-weight-tons).
Vietcombank – the country’s second largest by assets is set to launch its IPO in July or August at the latest and list on the stock market by October, with the second shares auction to be conducted overseas next year. It is in the process to source out strategic foreign investors to participate in managing the structure of the bank.
After going public, the state will hold a 70% stake in the bank and the remaining 30% will go to investors via domestic and overseas IPOs. The bank plans to launch an IPO in Hong Kong or Singapore next year, where stock exchanges have recognized Vietcombank as qualifying under their basic requirements.
By the end of 2006, Vietcombank had assets of VND169.46 trillion ($10.06 billion), up 23.9% on year.
It made a net profit of VND2.47 trillion during the year, up 91.5% year on year, bank figures showed.
Source: Thanh Nien
Friday, June 15, 2007
Road developer plans to build highway on $169 mln in bonds
The state-run Vietnam Expressway Corporation (VEC) is set to raise VND2.7 trillion (US$169 million) from a domestic bond issue this year to finance the construction of a key expressway in northern Vietnam. The corporate bond issue recently approved by the government will be guaranteed by the Ministry of Finance.
The VEC – an arm of the Ministry of Transport said the raised capital would be invested in the first phase of the 56-km Cau Gie-Ninh Binh expressway through Ha Nam, Ha Tay, Nam Dinh and Ninh Binh provinces.
In a dispatch to the VEC earlier this week, Prime Minister Nguyen Tan Dung instructed the ministries of transport and finance, and relevant agencies to assist the corporation in drawing up a bond schedule.
The project requires a total investment capital of VND5.4 trillion ($335 million) for two phases.
The first phase, for which construction kicked off last January, will see VEC investing VND3.7 trillion ($230 million) to build the four-lane road expected to open traffic in 2009.
Of the investment sum, VEC will obtain VND1 trillion from the state coffers to implement the project.
In the second phase, the expressway will be expanded into six lanes.
As planned, the project owner will build other facilities along road like petrol and auto repair stations, rescue centers, motels and advertising services.
Vietnam has only four roads under construction that rise to international expressway standards.
Under the government’s infrastructure development plan between now and 2020, the target of a 2,353km highway to be built by 2015 will be the VEC’s largest task.
Expressways account for 4.44% of total roadway mileage in Singapore, 0.61 per cent in Malaysia, and 2.4 per cent in Korea, but they are almost negligible in Vietnam.
Building highways in the country has long fallen under the authority of Project Management Units (PMUs) within the Ministry of Transport. Since 2004, however, the task has been transferred to the VEC.
Source: Thanh Nien
The VEC – an arm of the Ministry of Transport said the raised capital would be invested in the first phase of the 56-km Cau Gie-Ninh Binh expressway through Ha Nam, Ha Tay, Nam Dinh and Ninh Binh provinces.
In a dispatch to the VEC earlier this week, Prime Minister Nguyen Tan Dung instructed the ministries of transport and finance, and relevant agencies to assist the corporation in drawing up a bond schedule.
The project requires a total investment capital of VND5.4 trillion ($335 million) for two phases.
The first phase, for which construction kicked off last January, will see VEC investing VND3.7 trillion ($230 million) to build the four-lane road expected to open traffic in 2009.
Of the investment sum, VEC will obtain VND1 trillion from the state coffers to implement the project.
In the second phase, the expressway will be expanded into six lanes.
As planned, the project owner will build other facilities along road like petrol and auto repair stations, rescue centers, motels and advertising services.
Vietnam has only four roads under construction that rise to international expressway standards.
Under the government’s infrastructure development plan between now and 2020, the target of a 2,353km highway to be built by 2015 will be the VEC’s largest task.
Expressways account for 4.44% of total roadway mileage in Singapore, 0.61 per cent in Malaysia, and 2.4 per cent in Korea, but they are almost negligible in Vietnam.
Building highways in the country has long fallen under the authority of Project Management Units (PMUs) within the Ministry of Transport. Since 2004, however, the task has been transferred to the VEC.
Source: Thanh Nien
Subscribe to:
Posts (Atom)
