Sembcorp Industries (Sembcorp), on Feb 25, announced that it has inked four agreements that will support Vietnam’s energy transition and sustainable development.
The agreements were presented to the President of Vietnam, Nguyen Xuan Phuc, as well as key members of his cabinet earlier today.
Under the agreements, Sembcorp will develop a range of energy and urban solutions over areas of collaborations that include the development of sustainable industrial parks, developing a sustainable and reliable power system, renewable energy and technology, as well as skills and capabilities building.
“Vietnam has been one of Southeast Asia’s fastest-growing economies and is a core market in Sembcorp’s transformation strategy. The collaborations reaffirm our deep commitment to Vietnam. We look forward to working with like-minded partners as we create synergies to build a greener and more sustainable future for the country,” says Wong Kim Yin, Sembcorp’s group president & CEO.
As part of his state visit to Singapore, Nguyen will also be visiting the Sembcorp Tengeh Floating Solar Farm on Tengeh Reservoir.
The signings are not expected to have a material impact on Sembcorp’s earnings per share (EPS) and net asset value (NAV) per share.
See also: Nam Cheong secures multi-year OSV charter contracts worth RM1.2 bil
As at 1.47pm, shares in Sembcorp are trading 8 cents higher or 3.27% up at $2.53 on Feb 25.
Photo: Sembcorp
