Malaysia's Toyo Group Plans 1,000-MW Power Plant in Vietnam
Printing material manufacturer Toyo Ink Group Bhd plans to build a 1,000-MW power plant in Vietnam to boost the company's profits, foreign media reported.
Toyo had leased land to build the plant and was now waiting for the power purchasing agreement, managing director Steven Song Kok Cheong said September 13.
The plant is due for operation in the end of March 2010, he said, refusing to mention exact investment of the project.
“As a rule of thumb, 1MW is equivalent to US$1million, hence 1,000MW will cost us US$1billion,” Song said.
“But the cost of the procurement of these projects will certainly increase. Consider the cost of copper, for instance, which will definitely increase. Taking all that into consideration, it is still premature for us to comment,” he said.
Vietnam is one of Toyo's top export markets with the shipment of printing ink and packaging materials to several large multinational corporations.
The group recently set up a manufacturing plant in Vietnam, Song said, elaborating that the plant will initially manufacture on a low scale.
In financial year 2007, Toyo recorded net profit of US$885,385 on turnover of US$19.57 million, compared with US$678,312 and US$18.94 million, respectively in 2006. (biz.thestar.com.my)
Vietnamese
