Vietnam's REE to boost power sector investment

Refrigeration Electrical Engineering Corporation will step up investment in hydropower and thermo-power companies, says the company's chairwoman and CEO, Nguyen Thi Mai Thanh.

REE is already a major shareholder in many power companies such as Thac Ba Hydropower with a 23.97% stake, Thac Mo Hydropower (35%), and Ninh Binh Thermal Power (28.4%). In August, REE said it had bought into several coal firms like Nui Beo Coal (5.14%) and Deo Nai Coal (5%).

The company has recently announced that it is owning over 5% of Pha Lai Thermal Power JSC (PPC), a large-scale thermal electricity company with total chartered capital of more than VND3 trillion.

In the first eight months of the year, REE divested its holdings at big banks such as ACB and Sacombank, and adjusted its investment portfolio to focus on companies active in the fields of power, water and infrastructure.

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