Hanoi 25/09/2009 - Today SCIC and the Hai Phong thermoelectric JSC have signed an agreement, which allows SCIC to buy 45 millions shares, equivalent to 9% of the total chartered capital of 5 Billion VND, of the Hai Phong thermoelectric JSC.

Following this, SCIC will sign a strategic share agreement with the EVN, currently the controlling shareholder in the Hai Phong thermoelectric JSC. The strategic agreement will establish the most important points of the shareholding relationship between SCIC and EVN regarding the Hai Phong thermoelectric JSC. Prior to this agreement, under the discretionary guidance of the Prime Minister, SCIC and EVN are to hold stake accounting for at least 51% chartered capital of power joint stock companies that these two corporations are shareholders

According to Mr Tran Van Ta, General Director of SCIC, the Corporation is considering investing in several projects invested by EVN to facilitate project implementations.

“One of the important objects of SCIC as the Government strategic investor is to help enhance the leading role of the State in key sectors of the economy. Energy has been one of the strategic infrastructure field that draws SCIC’s special attention. As a financial investor, we are actively and efficiently cooperating with EVN, the line business investor, to take full advantage of each party.”said Mr Ta.

The investment of SCIC in the Hai Phong thermoelectric JSC is part of the undertakings stated in the comprehensive cooperation agreement signed between SCIC and EVN in December 2008. As a financial investor, SCIC will buy shares in power projects of all types, i.e. those that are planned to be developed or are being developed or existing power plants,  in which EVN is holding stake  This way of cooperation between SCIC and EVN is aimed at the controlling state holding in key power projects while as ensuring EVN to have sufficient resource to invest in other important projects. Along with the Hai Phong thermoelectric JSC, SCIC has invested approximately 2,000 billion VND  in the form of capital contribution in other power plants since early 2009, such as Vinh Son Song Hinh hydroelectric company (24%), Thac Ba hydroelectric (24%), Quang Ninh thermoelectric (10%). By now, the expected investment returns rate of these investments is rather desirable and convincing, which proves the investment policy followed by SCIC to be safe and sound.

Information of the parties:

- The State Capital Investment Corporation (SCIC) was incorporated under Decisions No.151/2005/QD-TTg of the Prime Minister dated 20 June 2005 In addition to representing the state capital interests in equitized state-owned enterprises, SCIC is also assigned to invest inkey sectors/industries of the economy. As the Government strategic investor, SCIC is not only to effectively manage the State capital in its portfolio companies but also to seek investment opportunies in key sectors to enhance the sustainable development of the national economy.

- The Hai Phong thermoelectric JSC is established and operates in compliance with Vietnam regulations to invest in, manage and operate Hai Phong thermoelectric plant with 4 engines with total power generation capacity of 1,200MW. This is also one of the key and potential thermoelectric projects in Vietnam. Currently, the Hai Phong thermoelectric JSC is re-structuring its shareholder profile in order to assure that the project is fuelled with sufficient capital to meet the expected implementation schedule as well as to look for potential partners with firm commitments regarding the effective, stable and long-term investment in the Company.

For more information, please contact:

Ms. Tran Hoang Ly, Executive Office, email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it