Australia's Acuity Funding to inject $6.4 billion into Tin Thanh Group

Accordingly, Acuity Funding will provide Tin Thanh Group with $6.4 billion for projects in Vietnam and the US. About $1 billion of the amount will be used to develop four biomass power plants and thousands of hectares of sorghum growing in Central and Southern Vietnam.

About $1.7 billion will be used to build a tire retreading factory and truck service in South Carolina (USA) to serve more than 1 million trucks in the US, with the goal of reducing emissions and saving costs. 

With this project, Tin Thanh Group was granted land and received support from the state of South Carolina with huge incentives of more than $500 million.

Approximately $3.7 billion in funding will be used to build a Green Hydrogen production facility in South Carolina. This project is being developed by Tin Thanh Group in cooperation with Air Products, a corporation worth $67 billion on the NYSE. 

The output will bring a major change to the auto industry, especially outdated, polluting coal-fired power plants. Tin Thanh Group has received approval for land grants and investment incentives from the state of South Carolina.

"After the signing ceremony, the guaranteed capital will be ready to distribute and manage the implementation of business plans in each phase, starting to disburse from projects in the US in 2023", Chairman Tin Thanh Group Tran Dinh Quyen said.

The capital arrangement and management company, Acuity Funding, acts as a worldwide investment bank, trusted by pension funds, investment funds, hedge funds, and insurance organizations in the United Kingdom, the United States, and Australia. This company has been in existence for more than 30 years and is the largest capital arrangement organization in Asia Pacific, with projects in over 20 countries.

Acuity Funding is a non-controlling member of the Society for Worldwide Interbank Telecommunications (SWIFT) and has the capacity to arrange and manage hundreds of billions of USD for large-scale projects.