South Korea's Taekwang Industrial Co Ltd, an unlisted maker of petrochemical and textiles, said on Wednesday that it would invest $4.5 billion in Vietnam to build and operate a coal-fired power plant.
The company said its shoe-making business arm in Vietnam, Taekwang Vina, had received approval from the Vietnamese prime minister's office to set up a new electricity business and will build a 2,400 megawatt coal-fired power plant by 2021.
Taekwang said it would sign a memorandum of agreement with the Vietnamese government as soon as in February.
S.Korea's Taekwang to build $4.5 bln plant in Vietnam
South Korea's Taekwang Industrial Co Ltd will invest $4.5 billion in Vietnam to build and operate a coal-fired power plant.
Source: Reuters
