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VN’s Hapaco eyes $174M wind investment

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A wind power project in Gia Lai. Photo gialai.gov.vn

VN’s Hapaco eyes $174M wind investment

Ho Chi Minh-listed Hapaco Group JSC (HAP) is planning to invest four trillion dong ($173.8 million) in a wind power project in the Central Highlands province of Gia Lai.

Gia Lai province borders Andong Meas and O’Yadav districts in Cambodia’s Ratanakkiri province.

The project is among those to be submitted for approval at the group’s annual shareholders’ meeting, which is slated for March 14.

The meeting will also discuss investment in building a 23ha care centre for the elderly in the northern city of Hai Phong city’s Thuy Nguyen district as well as HAP’s new development orientations in social housing and guest worker services.

HAP was one of the first listed on the Ho Chi Minh Stock Exchange (HoSE). As of December 31 last year, its total assets exceeded more than 808 billion dong.

Last year, the group reeled in 335 billion dong in revenue, a yearly decrease of 11 per cent. Its after-tax profit, meanwhile, hit 34.3 billion dong, up 69 per cent year-on-year.

On the HoSE, HAP’s share price gained 210 dong or 3.12 per cent to close at 6,950 dong on February 18 for a market capitalisation of 385.52 billion dong, with 577,100 shares traded.

VIET NAM NEWS/ASIA NEWS NETWORK

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