GE to expand operations in Vietnam
(VOV) - General Electric, an American multinational corporation, is considering expanding its wind turbine plant in Haiphong city in 2014.
VnExpress quoted GE Vice Chairman John Rice at a press briefing in Hanoi on November 27, saying the conglomerate is considering market needs and entering into negotiations with Haiphong leaders of the second phase of the plant.
GE poured US$110 million into the first phase of the Haiphong plant in 2009 and raked in US$390 million in export earnings. The plant manufactures wind turbine components for export to ASEAN countries.
International Energy Agency (IEA) and World Bank statistics show Vietnam has greater potential for wind power development than Thailand, Laos and Cambodia.
About 8.6% of Vietnam’s territorial area is suitable for large-scaled wind power projects, in comparison with 2.9% of Laos, and just 0.2% of Cambodia and Thailand.
GE Vietnam General Director Nguyen My Lan said Vietnam has taken first steps toward developing wind power in recent times. The Ministry of Industry and Trade and GE recently signed a consulting contract to turn wind power into a stable source of power in Vietnam.