RATCH Group ties up with Geleximco to invest in Vietnam power projects
RATCH Group, through its wholly-owned subsidiary RH International (Singapore), signed a partnership with joint stock firm, Geleximco Group, with the aim of investing in Vietnam’s An Binh Energy and Infrastructure Fund (ABEIF).
Under the agreement, RH International will acquire a 49 per cent stake in ABEIF, which is valued at US$78.5 million (about Bt2.5 billion), while Geleximco will hold 51 per cent equity in the fund.
Kijja Sripathangkura, RATCH Group’s chief executive officer, said Geleximco is Vietnam’s leading large-scale industrial conglomerate that has been playing an active role in different businesses including energy, infrastructure, industry, real estate, finance, trading and services.
ABEIF, whose portfolio comprises conventional and renewable power projects with a total combined capacity of 2,620 megawatts, will potentially drive the company’s investment in energy and infrastructure.
Of the four projects it has invested in, the 620MW project in northern Vietnam went into operation recently.
ABEIF’s current assets include:
• 620MW Thang Long power plant fired by anthracite coal,
• 650MW coal power plant project currently being built in northern Vietnam,
• 1,200MW coal power plant project in early stages of development in central Vietnam,
• 150MW hydroelectric power plant in early stages of development in northern Vietnam.