Starting up the plan to develop offshore wind power projects in Vietnam for export to Singapore

At the meeting, Mr. Tow Heng Tan informed us that Sembcorp invests in Vietnam through Sembcorp Development (SCD) in the industrial park infrastructure and real estate, etc. Sembcorp Utilities (SCU) invests in the energy sector through many legal entities such as Phu My 3 Power Company, Vietnam Sembcorp Energy and Vietnam Sembcorp Solar...

Prime Minister Pham Minh Chinh receives Mr. Tow Heng Tan - Vice Chairman of the Board of Directors of Sembcorp Group - Photo: VGP/Nhat Bac.

Prime Minister Pham Minh Chinh assessed that Vietnam –Singapore Industrial Parks (VSIPs) operate very efficiently, create jobs for hundreds of thousands of Vietnamese employees, are a symbol of successful bilateral cooperation; and He welcomed the plan to implement business investment activities of the group in Vietnam.

The Prime Minister supported the Group to implement renewable energy projects in Vietnam, including a cooperation plan between Sembcorp and the Vietnam Petroleum Technical Services Corporation (PTSC) to implement offshore wind power projects for exporting to Singapore.

Currently, Vietnam and Singapore are discussing a plan to build a power transmission line across the East Sea on the basis of harmonized benefits and shared risks.

After the meeting, the Prime Minister, and leaders of ministries and sectors of the two countries witnessed the ceremony for handing a joint development cooperation agreement between PTSC and Sembcorp Utilities in developing offshore wind power projects for exporting to Singapore.

The Prime Minister, and leaders of ministries, and sectors of the two countries witnessed the awarding ceremony of a joint development cooperation agreement between PTSC and Sembcorp Utilities in developing offshore wind power projects in Vietnam for export to Singapore - Photo: VGP /Northern Japan.

Sembcorp was established in 1998, with owned capital of the Government of Singapore. Sembcorp Industries provide solutions for energy transformation and urban development around the whole world.

Up to now, Sembcorp has invested in many major markets in the world such as the UK, China, the Middle East, and India. However, investment activities are still mainly concentrated in Asia.

In 2021, Sembcorp achieved a turnover of about $5.7 billion and a profit of $345 million, and has more than 5,000 employees.