Nonthaburi: RATCH Group Public Company Limited today revealed that the company through RH International (Singapore) Corporation Limited (RHIS), its wholly-owned subsidiary, concluded the Partnership Agreement with Geleximco Group Joint Stock Company (Geleximco) with an aim to invest in An Binh Energy and Infrastructure Fund (ABEIF), focusing on energy and infrastructure investment in Vietnam. Following the agreement, RHIS will acquire 49% stake of ABEIF valued at USD78.5 million (equivalent around 2.5 billion Baht), while Geleximco holds 51% equity of the fund.

Mr. Kijja Sripathangkura, RATCH Group’s Chief Executive Officer said that Geleximco is the Vietnamese leading and large-scale industrial conglomerate actively playing in various businesses including energy, infrastructure, industry, real estate, finance, trading and services. It is respected as a strong local partner enabling the company to expand new investment in Vietnam, the high potential growth country. As strategic mechanism, ABEIF will potentially drive the company’s investment in energy and infrastructure serving its growth effectively. The ABEIF’s portfolio currently has conventional and renewable power projects with total combined capacity of 2,620 megawatts. Out of 4 projects, a 620-MW power project located in northern Vietnam has completed construction and started commercial operation recently. 

“RATCH is very pleased with this achievement. It significantly marks the beginning of potentiality and strength integration between the company and Geleximco Group, our new partner, together to develop business in Vietnam along with aligned direction and goals particularly in creating energy security, developing economic growth and enhancing better quality of people’s living. Also, Vietnamese government aims to develop power generation capacity to 130 Gigawatts within 2030 increasing from 54 Gigawatts at present. The company is certainly confident that Vietnam’s economy keeps growing continuously,” Mr. Kijja said.

The An Binh Energy and Infrastructure Fund (ABEIF) established in 2017 granted by the State Securities Commission of Vietnam. Its investment mainly focuses on energy, infrastructure and real estate businesses and its current assets include:

• The operating 620-MW Thang Long power plant fired by anthracite coal, located in northern Vietnam   
• The under-construction 650-MW coal power plant project located in northern Vietnam   
• The 1,200-MW coal power plant project in early stage of development, located in central Vietnam
• The 150-MW hydroelectric power plant project in early stage of development, located in northern Vietnam