NSH Petro new breakthrough in investment and development

Nam Song Hau Petroleum Investment and Trading Joint Stock Company (NSH Petro, headquartered in Mai Dam town, Chau Thanh district, Hau Giang) operates in many fields, of which the focus is still on production, distribution, and logistics of petroleum...

Mr. Mai Van Huy (left) and Mr. Ranjit Thambyrajah at the signing ceremony

On the afternoon of February 27, at the headquarters of the People's Committee of Hau Giang province, Mr. Dong Van Thanh, Chairman of the People's Committee of Hau Giang province; Mr. Truong Canh Tuyen, Permanent Vice Chairman of the People's Committee of Hau Giang province; Mr. Nguyen Quynh Thien, Vice Chairman of the People's Committee of Tra Vinh province; Mr. Dao Van Lung, former Head of the Central Propaganda Department; representatives of departments and branches of Hau Giang province and Can Tho city; and press agencies attended the signing ceremony of the loan approval between NSH Petro and the financial institution Acuity Funding (Acuity Funding) from Australia.

Also invited were Mr. Dominic Balasuriya, Australian Economic Consul in Ho Chi Minh City; Ms. Quyen Vo, Senior Policy Analyst of the Australian Consulate; Mr. Phuoc Vo, Director of Global Real Estate Services Company JLL Vietnam; Ms. Le Na, Vice President of UOB Bank...

Representatives of NSH Petro and Acuity Funding signed the document

At the ceremony, Mr. Mai Van Huy, Chairman of the Board of Directors of NSH Petro and Mr. Ranjit Thambyrajah, Chairman and CEO of Acuity Funding signed a document agreeing to finance development investment capital related to 8 component projects of NSH Petro divided into 2 phases.

Accordingly, in phase 1, Acuity Funding arranged capital (about 290 million USD) for the operating project with the purpose of disbursing to pay off bank debts, tax debts, providing working capital, upgrading existing facilities for 3 projects of NSH Petro in Mai Dam (Hau Giang), Go Cong (Tien Giang), Tra Noc (Can Tho).

Phase 2 will be implemented immediately after phase 1, Acuity Funding continues to provide about 430 million USD for NSH Petro to implement 5 projects to build new factories in Tien Giang, renovate Nam Viet Cai Rang factory (Can Tho), increase working capital, support the completion of mixed projects in Dong Phu (Hau Giang), Phong Dien (Can Tho)...

These credit financing packages implemented in 2024 are stable and long-term for 20 years (preferential extension period up to 3 years), ensuring a solid foundation and creating a stronger breakthrough for NSH Petro.

Mr. Truong Canh Tuyen spoke at the signing ceremony between NSH Petro and Acuity Funding

In 2024, the Ministry of Industry and Trade also allocated a minimum total source of petroleum (including imported, produced, blended and purchased from domestic production sources) to NSH Petro of 684,926m3, of which 466,186m3 is gasoline and 218,740m3 is diesel. NSH Petro strives to overcome all difficulties, increase production to ensure the supply of petroleum for provinces and cities, ensuring energy security.

Acuity Funding is a global private credit institution from Australia, a member of the World Wide Interbank Financial Telecommunication Organization (SWIFT) with over 40 years of experience and has been present in the Vietnamese market for over 9 years. Acuity Funding is capable of providing, coordinating and managing over 100 billion USD worth of projects in 35 countries, especially in the Asia-Pacific region.

Leaders at all levels attended the ceremony

In addition to partnering with NSH Petro, Acuity Funding, with the support of the Australian government and green finance sources, will also expand cooperation and support for public, public-private partnership (PPP) and private projects in many provinces and cities. Acuity Funding will accompany other Vietnamese enterprises in the spirit of bringing community benefits, sustainable development and environmental protection.

Speaking at the ceremony, Mr. Truong Canh Tuyen expressed his deep gratitude to the Australian Government and partners from Australia. He highly appreciated the outstanding efforts of NSH Petro and Acuity Funding in accelerating the completion of signed cooperation documents according to regulations. Mr. Tuyen expected that the cooperation between NSH Petro and Acuity Funding will continue to open up many new and better investment opportunities in the near future...

Source link: https://thanhnien.vn/nsh-petro-dot-pha-moi-trong-dau-tu-phat-trien-185240227181940168.htm