What's new

India's Tata Power to speed up $1.8 billion Vietnam power project

Gessler

SENIOR MEMBER
Feb 24, 2012
3,579
-10
5,295
Country
India
Location
India
52ab828bb7a22b4278bcefaf2b6c0e4b.jpg


By Sanjeev Miglani


NEW DELHI, Oct 27 (Reuters) - Tata Power Company Ltd plans to complete work on a $1.8 billion thermal power station in Vietnam three years early, government officials said, as the two countries strive to showcase the economic ties between them.

Vietnamese Prime Minister Nguyen Tan Dung, visiting India just a month after India's president travelled to his country, said he had met Tata group officials and that the 1,320 megawatt project would be completed by 2019 instead of 2022.

Tata Power won the contract last year to develop the coal-fired Long Phu 2 Power Project in the southern Soc Trang province of Vietnam on a build, own and transfer basis. Indian officials also said the project had been brought forward.

"I have promised to the Tatas we will create favourable conditions for the power project," Dung told a business conference. "They said this project is not the final step, they are interested in expanding the relationship further."

The strengthening of ties between the two countries, in defence as well, comes as both are embroiled in territorial disputes with China.

Trade between the two countries increased by over 30 percent to $8 billion in 2013/14 from the previous year, the Indian foreign ministry said.

Dung said trade could hit $20 billion by 2021, far outstripping a target of $15 billion.

"India and Vietnam are two thriving economies at this point. This offers us a strong opportunity to build ties further," Dung said.

Vietnam expects economic growth of 6.2 percent in 2015, faster than the targeted 5.8 percent this year. India's gross domestic product grew a faster-than-expected 5.7 percent year-on-year in the quarter ended in June, the fastest pace in two and half years.

India's Infrastructure Leasing & Financial Services Ltd also has signed a memorandum of understanding on the management of an expressway connecting Hanoi to the port city of Haiphong under an approximately $2 billion contract. (editing by Jane Baird)

Read more: India's Tata Power to speed up $1.8 bln Vietnam power station | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook

@Viet
 
Last edited:

Aarush

FULL MEMBER
Jan 27, 2014
1,174
-1
2,718
Country
India
Location
United States
i guess so :) time to buy few stocks whats your say bro?
planning to buy...but company in 5 digit debt..

Balance Sheet
(Dec '13)
(In Rs Cr)

Total Share Capital 237.33
Net Worth 13127.36
Total Debt 10255.52
Net Block 8598.63
Investments 12362.45
Net Current Assets 1646.71
Total Assets 23382.88
 

notsuperstitious

ELITE MEMBER
Jan 11, 2009
10,473
-15
20,548
Indian private players are fully capable of finishing projects on time and within budget.

The PSUs are a liability. Not because they are evil people, but the accountability - incentive - fear system is all wrong. They should be privatised. Yesterday.
 

Viet

ELITE MEMBER
Jun 18, 2012
26,213
0
18,916
Country
Viet Nam
Location
Germany
View attachment 143842

By Sanjeev Miglani


NEW DELHI, Oct 27 (Reuters) - Tata Power Company Ltd plans to complete work on a $1.8 billion thermal power station in Vietnam three years early, government officials said, as the two countries strive to showcase the economic ties between them.

Vietnamese Prime Minister Nguyen Tan Dung, visiting India just a month after India's president travelled to his country, said he had met Tata group officials and that the 1,320 megawatt project would be completed by 2019 instead of 2022.

Tata Power won the contract last year to develop the coal-fired Long Phu 2 Power Project in the southern Soc Trang province of Vietnam on a build, own and transfer basis. Indian officials also said the project had been brought forward.

"I have promised to the Tatas we will create favourable conditions for the power project," Dung told a business conference. "They said this project is not the final step, they are interested in expanding the relationship further."

The strengthening of ties between the two countries, in defence as well, comes as both are embroiled in territorial disputes with China.

Trade between the two countries increased by over 30 percent to $8 billion in 2013/14 from the previous year, the Indian foreign ministry said.

Dung said trade could hit $20 billion by 2021, far outstripping a target of $15 billion.

"India and Vietnam are two thriving economies at this point. This offers us a strong opportunity to build ties further," Dung said.

Vietnam expects economic growth of 6.2 percent in 2015, faster than the targeted 5.8 percent this year. India's gross domestic product grew a faster-than-expected 5.7 percent year-on-year in the quarter ended in June, the fastest pace in two and half years.

India's Infrastructure Leasing & Financial Services Ltd also has signed a memorandum of understanding on the management of an expressway connecting Hanoi to the port city of Haiphong under an approximately $2 billion contract. (editing by Jane Baird)

Read more: India's Tata Power to speed up $1.8 bln Vietnam power station | Daily Mail Online
Follow us: @MailOnline on Twitter | DailyMail on Facebook

@Viet
30% increase in trades. I believe the figure is higher than our trades with China. that is very nice :-)
 

srshkmr

FULL MEMBER
Apr 12, 2013
1,334
-1
1,079
Country
India
Location
Australia
planning to buy...but company in 5 digit debt..

Balance Sheet
(Dec '13)
(In Rs Cr)

Total Share Capital 237.33
Net Worth 13127.36
Total Debt 10255.52
Net Block 8598.63
Investments 12362.45
Net Current Assets 1646.71
Total Assets 23382.88
That's one thing but mainly due to all those acquisitions they had their debt lets check this year's perhaps that would give us more clear picture
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom