RATCH Partners with “Geleximco” to Invest in Power and Infrastructure Projects in Vietnam

Ratch Group Public Company Limited (RATCH) announced that on July 15, 2020, the company through its wholly owned subsidiary, RH International (Singapore) Corporation Pte. Ltd (RHIS), has entered into definitive agreement in relation to a partnership with Geleximco Group Joint Stock Company (Geleximco). 

 

Through this partnership RHIS and Geleximco would jointly invest in An Binh Energy and Infrastructure Fund (ABEIF), a Vietnam focused power sector fund which has potential investment consideration in various power and infrastructure projects in Vietnam including but not limited to thermal energy projects and renewable energy projects. Potential pipelines including a 1200MW coal-fired power plant project in early development stage in the Central of Vietnam, Thang Long Power Plant a 620MW operating coal-fired power plant in the North of Vietnam, a 150MW hydro-power plant project in early development stage in the North of Vietnam and another 650MW coal-fired power plant in developing stage in the North of Vietnam. 

 

RATCH and Geleximco will hold ownership interest of 49% and 51% of the charter capital of ABEIF, respectively with the investment by RHIS valued at approximately USD 78.5 million or equivalent to Baht 2,500 million.

 

Geleximco, is one of the largest industrial conglomerates in Vietnam with key business operations in power, industrial, real estate, finance, trade and service sectors. This hence partnership remarks RATCH’s first significant investment in VIetnam with a strong local partner in line with its long-term growth strategy in Southeast Asia region whereas Vietnam is a high growth power market with total installed capacity target of 130 GW by 2030 doubling the current 54 GW. ABEIF would focus on developing and operating high-quality and essential power generation projects and assets across various fuel type in Vietnam