SAO MAI GROUP, LTV GROUP COLLABORATE TO SURVEY CLEAN ENERGY INVESTMENT IN LAOS
Fulfilling the commitment with Lao Prime Minister Sonexay Siphandone after an earlier meeting, on the afternoon of May 8, 2024, at the headquarters of LTV Group (Vientiane, Laos), Sao Mai Group and LTV Group formalized their collaboration through a cooperation agreement, initiating a joint research survey into clean energy investment opportunities. The primary focus of this venture will be on harnessing wind and solar power.
Mr. Le Nguyen Hoang Anh Duy (left), Deputy General Director of Sao Mai Group in charge of clean energy business, and Mr. Laty Sisouphannavong, Chairman of LTV Group, signed the cooperation agreement
According to the effective power purchase agreement between the Government of Vietnam and the Government of Lao PDR until 2030, Sao Mai Group and LTV Group urgently promoted surveying, research and development of energy projects in Laos with a total estimated value of about US$2 billion. Solar power, wind power and hydropower are hugely potential in Laos and Lao Government is calling for professional investors while Sao Mai is very ready for this position. After searching for any feasible project, Sao Mai Group will submit it to the Vietnamese Government for permission on overseas clean energy investment.
Following its success in investing in ground-mounted solar power and rooftop solar power in Vietnam, Sao Mai Group is experienced and professional in strategic planning and the firm is more visionary with its cross-border investments.
Mr. Le Thanh Thuan, Chairman of the Founding & Development Council of Sao Mai Group, and Mr. Laty Sisouphannavong, Chairman of LTV Group
As for LTV Group, from Party and State policies of the Lao PDR, the birth and growth of LTV Group proved that the Lao Government's development promotion policy has been increasingly effective in leveraging and motivating newly awakening internal resources for socioeconomic development goals to ensure national security.
LTV Group, established in 1995, is currently a powerful, influential corporation in the Lao business community. The firm is very professional and experienced in building roads and bridges, architecture, building hydroelectric power plants, carrying out and planning urban projects, defense belts, islands, aquaculture areas and operating in-depth tourism services.
The cooperation between Sao Mai Group and LTV Group proved that the two sides are very determined for a long-term strategic journey. According to their leaders, the two firms will have comprehensive cooperation plans to expand to other fields from aquatic farming and processing for export, fish feed processing and tourism to real estate as suggested by the Prime Minister of Laos.
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SAO MAI GROUP
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