EVNNPC and Samsung Vietnam discuss electricity usage plan and power supply solution

EVNNPC has just had a working session with Samsung Vietnam and some member units of Samsung Vietnam to discuss electricity usage plans.

The Northern Power Corporation (EVNNPC) had a working session with Samsung Vietnam Group on electricity usage plans and power supply solutions.

Attending the meeting on behalf of the Northern Power Corporation (EVNNPC) were Mr. Nguyen Duc Thien - General Director and representatives of relevant professional departments. Also attending the meeting were Mr. Choi Joo Ho - General Director of Samsung Display Vietnam Group and some Directors of member units of Samsung Group in Vietnam.

Samsung mobile device assembly and component manufacturing factory in Vietnam Photo: Samsung Vietnam

According to the report, EVNNPC is supplying electricity to Samsung Group's main companies in Yen Phong Industrial Park, Bac Ninh and Yen Binh Industrial Park, Thai Nguyen province, including: Samsung Electronics, Samsung Display, Samsung Electronics Thai Nguyen, Samsung Electro Mechanics Thai Nguyen and supporting companies.

It can be said that since Samsung invested in Bac Ninh and Thai Nguyen, EVNNPC has paid special attention and prioritized investment in the power grid to ensure the best power supply infrastructure with a high level of backup for Samsung Groups and supporting companies.

Mr. Choi Joo Ho, General Director of Samsung Display Vietnam (SDV)

At the meeting, Mr. Choi Joo Ho, General Director of Samsung Display Vietnam Group, presented a report assessing the power supply situation for the production of Samsung Group and its supporting companies in the past time. At the same time, Mr. Choi Joo Ho also discussed specific solutions to increase the stability of power supply for Samsung Group that the Electricity industry is implementing at present.

Mr. Nguyen Duc Thien, General Director of EVNNPC (striped shirt) at the meeting

Speaking at the meeting, Mr. Nguyen Duc Thien, General Director of EVNNPC affirmed that EVNNPC always pays attention to providing reliable and stable electricity to serve the production and business activities of Samsung Vietnam Group. Mr. Nguyen Duc Thien hopes that the leaders of Samsung Vietnam Group will share the difficulties of the Electricity industry to see the efforts of the Electricity industry in supplying electricity to Samsung Vietnam Group in the recent past.

Samsung is currently the largest FDI investor in Vietnam with four factories in Thai Nguyen, Bac Ninh, Ho Chi Minh City and an R&D Center in Hanoi. Last year, Samsung's four factories in Vietnam contributed one-third of Samsung's total global profits.

In the North, Samsung has 3 factories, of which Samsung Thai Nguyen (SEVT) is currently Samsung's largest smartphone factory in the world.

In 2023, SEVT will achieve revenue of about 23 billion USD and profit of 1.7 billion USD. Revenue of two facilities in Bac Ninh, Samsung Electronics (SEV) and Samsung Display (SDV), will reach more than 15 billion USD and 18 billion USD. SEV's profit will reach 1.1 billion USD, while SDV will earn more than 800 million USD.

Samsung Electronics Group's first quarter 2024 financial report shows that Samsung's four factories in Vietnam earned nearly 1.2 billion USD in profit. Specifically, the total revenue of Samsung's four factories in Vietnam in the first 3 months of this year reached 16.6 billion USD, equivalent to the same period last year and an increase of about 2 billion USD compared to the fourth quarter of 2023. The after-tax profit of the four factories accordingly reached 1.19 billion USD.

As usual, SEVT continued to be the leading profit factory in Vietnam with 955 billion won (equivalent to about 690 million USD). The two facilities in Bac Ninh, Samsung Electronics (SEV) and Samsung Display (SDV), also reported profits of 405 billion won (294 million USD) and 168 billion won (120 million USD), respectively.

Source: https://baodautu.vn/evnnpc-va-samsung-viet-nam-ban-ke-hoach-su-dung-dien-va-phuong-an-cap-dien-d218145.html