Chủ Nhật, ngày 06 tháng 4 năm 2008

CONTRACT SIGNING CEREMONY

“The Deep Water Port at Nam Du archipelago and the Kien Luong 4,400 MW Thermal Power Center in Kien Giang province”

ITA Group is pleased to announce the contract signing ceremony to develop the Kien Luong 4,400MW Thermal Power Centre with estimated capital investment about 6.7 billion USD and the entrepôt Deep Water Port at Nam Du archipelago, also called Nam Du-Kien Luong Port, with estimated capital investment about 1 billion USD. ITA Group will sign the contract with BLACK & VEATCH, an American leading global engineering, consulting and construction corporation and FHDI Engineering Co., LTD (FHDI), one of the fifty world leading port developers; and Power Engineering Consulting Joint Stock Company 2 (PECC 2). The ceremony will take place at 5:30 p.m. on April 08 2008 at Sofitel Plaza, 01 Thanh Nien Street, Ba Dinh District, Ha Noi.

This is the first largest project of thermal power in Vietnam which will be run by a non-state run company under the principle approval of the Prime Minister. By letting IAT Group runs this project, the Vietnamese Central Authorities demonstrated its tenacious determination to create a fair playground among state-owned and non-state companies to contribute to the rapid growth of the nation economy.

Follow the principle approval of the Prime Minister and of the People Committee of Kien Giang Province for ITA Group to invest in the Kien Luong complex of thermal power centre, industrial park, and residential area, ITA Group and many leading domestic and international consulting companies have been working aggressively to develop the master plan of Kien Luong Thermal Power Centre which is approved by the Ministry of Industry and Trade on February 27 2008.

THE NECESSITY OF THE PROJECT

The ratio of resilience in electricity shows that the demand for power in Vietnam increases from 1.5 to 2 times higher than other countries in the region. The balance of primary energy resources reveals when the reserves of hydroelectricity, gas resources for gas turbine alloy plants, local resources of coal for thermal power plants in the North and the electricity import from Laos and China are used up, Vietnam will bring in more primary and atomic energy after the year 2015.

On the other hand, petroleum and gas have become more expensive than those of the past and extremely rare at the time being. Under such circumstances, thermal plants utilized F.O. oil and gas turbine alloy plants of D.O. or F.O. oil are uneconomical and uncompetitive in compared to thermal power plant which is utilized coal. In accordance with the strategy for energy diversification in electricity, it is necessary to take into consideration of a thermal plant using imported coal after 2010.

In order to meet the increasing demand of electricity and also to solve the above issue, the Government is calling for investment from both domestic and international investors in power industry, in addition to the focus on new resources for electricity and the exertion of the electricity industry as well.

On July 18 2007, the Prime Minister approved of the National Electricity Development Master Plan (Master Plan 6) for 2006-2015, and estimated that, by Decision No. 110/2007/QĐ-TTg, the country demand for electricity by the year 2025 is likely to increase by 17% per annum (minimum estimation) and 20% per annum (maximum estimation), in which the latter should be taken as the directive role, and at the same time prepared for a 22% rate in unexpected substantial increasing. Pursuant to the approved Master Plan 6, Kien Luong Thermal Center is considered a practical development to meet the steadily increasing demand of additional charge for the Southern region and the national electricity system as well.

On July 15 2007, the National Office issued the official document No. 3941/VPCP-QHQT to approve for ITA Group making the master plan for the complex of Industrial Park, residential area, Thermal Plant of a capacity 4,400 MW and Deep Water Port in Kien Luong District, Kien Giang Province.

To implement the mentioned approval, ITA Group has consulted with the Ministry of Industry and Trade and approved of developing the master plan for Kien Luong Thermal Power Center under the official correspondence No. 0694/BCT-NL and the Decision No. 0760/QĐ-BCT on January 30 2008.

ITA Group has also signed an agreement for consulting services with the Power Engineering Consulting Joint Stock Company 2 (formerly the Power Engineering Consulting Company 2) to develop the master plan of Kien Luong Thermal Power Center with the maximum capacity of 4,400 MW. ITA Group signed with the Chinese FHDI Engineering Co., Ltd. to carry out the geological investigation for developing the port for Kien Luong Thermal Power Center.

ABOUT ITA GROUP

ITA Group, also known as ITACO, has been in operation for over 11 years with over 20 affiliated companies in various industries. ITA Group is currently one of the leaders in Industrial Park and Infrastructures Development in Vietnam, whose main success is represented by numerous projects in different cities across the nation.

ITA Group has been extraordinarily successful in both operations and investments to continue its development, expansion and growth. ITA Group has provided at least 70,000 stable jobs and aimed to generate about 100,000 employments for the next five years. ITA Group has been supporting and developing Binh Tan district, one of the poorest districts in Ho Chi Minh City, to become a fastest growing rate district in Ho Chi Minh City.

In the beginning, ITA Group’s first project involved in transforming an area of low agricultural production value, 12km westward of Ho Chi Minh City, into the biggest industrial park in the South of Vietnam. Tan Tao Industrial Park stretches over 442 hectares and its modern infrastructure brought in 204 local investors with the total capital of over 5,309 billion VND. ITA Group also accommodates 34 foreign investors from Taiwan, Hong Kong, Korea, China, Britain and United States with the total capital of 140 million USD. More than 234 companies have invested in production and warehouses, creating over 20.000 jobs for the local. Up to now, ITA Group has been involved in developing 9 industrial parks across the nation with the total land area of 9,032.8 ha, and successfully brought in thousands of jobs and businesses for the local areas.

On November 15th 2006, ITA Group was listed on the stock market of Ho Chi Minh City. ITA is quickly rated Blue-Chip Company in the market.

ITA Group currently has over 1,000 employees, and the most of them hold bachelor degrees. The management board consists of 12 individuals who have earned PhDs and Masters Degrees from reputable institutions in within and outside of the country.

ITA Group is also one of the leading charitable organizations in Viet Nam. During the past 11 years, ITA GROUP has donated several billion VND to build thousands of houses, kindergartens, elementary, and secondary schools for people in the rural areas. ITA had played as one of the leading aid forces during the hurricane season that devastated Vietnam, Laos and Cambodia.

Ha Noi, April 8th 2008

For futher information, please contact

Nguyen Tuan Minh – ITA Group Vice President

Telephone number: 0903.822.030

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