TIẾNG VIỆT Japan’s Saibu Gas buys 21% stake in Vietnamese gas firm
Saibu Gas's gas storage. (Source: global.kawasaki.com)
The purchase’s value is not disclosed but is estimated at dozen of millions of US dollars.
Saibu Gas said on December 24 that this is the first time it has poured investment into a foreign market.
As planned, the transfer of shares will be completed in the period from January to February 2020.
PVGD is a group specialized in supplying gas through pipe systems for industrial parks in Hanoi and Ho Chi Minh City. Its’ revenue in December 2018 reached VND8.14 trillion ($352 million).
In 2017, Tokyo Gas, also of Japan, bought 24.9 percent of the PVGD’s shares. Japanese firms’ investment in PVGD is hoped to help the Vietnamese enterprise increase its number of industrial customers in the near future.
Saibu Gas, based in Fukuoka Prefecture, supplies fuel to the northern region of Kyushu Island, Japan.
Source: VietnamPlus
