Major Japanese concrete maker Asia Pile to invest in Vietnam’s wind power firm

30, Mar. 2020

Image by Alexander Droeger from Pixabay
Image by Alexander Droeger from Pixabay

HANOI, NNA – Japan’s leading concrete pile manufacturer Asia Pile Holdings Corp. will acquire around 20 percent stake in a Vietnamese wind power firm to tap the foundation work of the sector.

The company said in a statement on Friday it plans to purchase the stake of Ca Mau Investment Renewable Power Joint Stock Co. for about 850 million yen ($7.9 million), which will build a wind power plant in the southern Vietnam for scheduled operation as early as August 2021.

The share purchase is scheduled to take place in four stages – March, May and August 2021 as well as May 2022 – through Phan Vu Investment Corp., local concrete pile maker which is owned 62.5 percent by Asia Pile, the statement said.

Ca Mau Investment Renewable Power, a wind power arm of the state-backed Vietnam Electricity (EVN), plans to pour 15.4 billion yen in the wind farm off the coast of the southernmost province of Ca Mau.

The plant will have 18 turbines with each at 100-meter diameter level and sell all the generated electricity to EVN, according to the statement.