HCM City biogas power project to use farm waste

HCM CITY — Saigon Agriculture Incorporation (Sagri) on Tuesday launched a biogas power plant at the Phuoc Long Pig Breeding Farm in HCM City's Cu Chi District.

The project, equipped with the world's most modern technology, is worth VND21.5 billion (US$1.12 million), of which VND16 billion was sponsored by the Korean Energy Management Corporation under the East Asia Climate Partnership Programme.

The plant, constructed by the South Korea based Hanatech Company, will use waste discharge from the farm to produce biogas which is then used to generate electricity.

With an average capacity of 80kWh, the plant will be able to produce about 640,000KW per year, meeting more than 70 per cent of electricity demand of the farm.

ABB inaugurates new factory in Viet Nam

Ha Noi — ABB, the leading power and automation technology group, will open a new plant for manufacturing power products in the northern province of Bac Ninh's Tien Son Industrial Zone today.

The US$30 million plant is part of ABB's plan to build production capacity in fast-growing markets, intended to help Viet Nam to meet the growing electricity demand for electricity while maintaining grid reliability.

Chief of ABB's Power Products division, Bernhard Jucker, said this new power plant was expected to employ more than 100 workers.

Italian companies keen to expand market presence

HCM CITY — The Italian Chamber of Commerce in Viet Nam (Icham) has announced that Vietnamese market has become more attractive for Italian companies.

Icham has unveiled plans to further develop its activities, starting with the participation of 12 leading Italian businesses in the Viet Nam Plastics and Rubber exhibition to be held at the Saigon Exhibition and Convention Centre in Phu My Hung urban area from March 18-20.

"Italy is eager to enhance connections with the Vietnamese business community. Icham is here to create opportunities for investors from Italy in Viet Nam and to support Vietnamese companies to do business in Italy," said Tomaso Andreatta, Icham Viet Nam chairman at a meeting on Tuesday.

Bong Sen to build luxury hotel in downtown HCM City

HCM CITY — Saigontourist's Bong Sen Joint Stock Company has announced it is co-operating with partners to build a new luxury hotel in District 2 this year.

The hotel will have 500 rooms with modern facilities meeting the demand of local and foreign visitors.

Bong Sen General Director Tran Kim Long said the company achieved a high growth rate in 2009 despite global economic woes, earning a turnover of VND270 billion (US$15 million) from its main businesses of hotels, restaurants, tourism, and trading and investment.

Last year, the company's hotels, including Palace Sai Gon, Bong Sen Sai Gon and Bong Sen Annex, welcomed and served more than 55,000 guests with occupancy rates of 76 per cent. Its profit margin after taxes last year was 28 per cent. — VNS