Vietcombank has signed a partnership with Refrigeration Electrical Engineering Corporation (REE) to finance the Wind Power Plant No. 3 (48MW) project in Trà Vinh Province.

At the signing ceremony held in Ho Chi Minh City on September 17, Vietcombank’s Ho Chi Minh City branch signed a credit contract to finance the Wind Power Plant No. 3 (48MW) project in Trà Vinh Province.

According to the agreement, the two parties will maintain cooperation in various fields including monetary management products and services, credit products and services; international payment and trade finance products and services; foreign exchange and capital market products and services; products and services related to mergers and acquisitions, divestment, and the stock market; connecting and cross-selling products for REE and Vietcombank’s partners; joint venture investment cooperation and human resource development.

At the signing ceremony, Mr. Nghiem Xuan Thanh, Chairman of the Board of Directors of Vietcombank, affirmed that this cooperation is an orientation for both parties to exploit strengths and develop business relationships. Meanwhile, Ms. Nguyen Thi Mai Thanh, Chairwoman of the Board of Directors of REE, considered the event as a result of the efforts of both sides in the cooperation process, laying the foundation for development in the coming decade.

Bà Nguyễn Thị Mai Thanh – Chủ tịch HĐQT REE và ông Nghiêm Xuân Thành – Chủ tịch HĐQT Vietcombank bắt tay ký kết thỏa thuận hợp tác. Ảnh: Vietcombank.

REE was established in 1977, originally as a state-owned Refrigeration Electrical Engineering enterprise. In 1993, the company was privatized and officially traded its first shares on July 28, 2000. Through 21 capital increases, REE has expanded its charter capital from 150 billion VND (in 2000) to over 3,100 billion VND currently. The company operates in four main business segments: M&E construction services, domestic electrical business under the Reetech brand, commercial office development, and investment in electrical and water infrastructure and renewable energy projects.

According to a Vietcombank representative, REE’s development directions are all essential sectors of life and are also priority credit growth areas for Vietcombank. Since 2017, the bank has approached and assessed many projects in the renewable energy sector and provided credit for solar power.

REE is also an important partner accompanying the bank in many fields, contributing to the development of the economy. Based on the cooperation between Vietcombank and REE, the bank currently has transactions with 14 member units within REE.

Source: VnExpress