DONGTAM GROUP (VIETNAM) SIGNS AGREEMENT WITH CS WIND (S. KOREA) FOR US$200 MILLION WIND POWER FACTORY

On September 10, 2024, Dong Tam Group (DTG) and CS Wind Corp. (CS Wind) officially signed a cooperation agreement. Under this agreement, DTG will lease land to CS Wind for the construction of a large-scale wind power factory with a total investment amount of up to US$200 million.

Attending the ceremony were leaders of Long An Province, including Mr. Nguyen Van Duoc, Member of the Central Committee of the Communist Party of Vietnam, Secretary of the Provincial Party Committee, and Chairman of the Provincial People's Council; Mr. Mai Van Nhieu, Member of the Provincial Party Standing Committee, and Permanent Vice Chairman of the People's Council of Long An Province; Mr. Huynh Van Son, Provincial Commissioner, and Vice Chairman of Long An Provincial People's Committee; along with leaders from various departments and agencies of Long An Province and Can Giuoc District. Representing CS Wind were Mr. Bang Seong-Hun, Chief Executive Officer of CS Wind Corp. (South Korea); Mr. Roy Kim, Senior Manager for Corporate Planning, CS Wind Corp. (South Korea); and Mr. Nguyen The Kien, General Director of CS Wind Corp. (Vietnam). Present on the side of Dongtam Group were Mr. Vo Quoc Thang. Chairman of the Board of Directors of Dongtam Group; Mr. Nguyen Van Hung, Member of the Board of Directors and CEO of Dongtam Group, along with members of the press and media.

With its strong production and quality management system and extensive global management expertise, CS Wind has supplied more than 13,000 wind towers to the world's leading wind turbine manufacturers such as Vestas, Siemens-Gamesa, GE, and Goldwind, affirming its position in the global renewable energy industry.

Long An Province, with its strategic location, rapid urbanization, strong infrastructure development, and having achieved the second rank in Vietnam's Provincial Competitiveness Index (PCI) in 2023, holds significant advantages in industrial and service development, FDI attraction, and favorable inter-regional geographical connectivity. Long An is the second locality in Vietnam targeted in CS Wind's investment development plan. Through an in-depth research process, CS Wind has been studying and collaborating seamlessly with DTG to establish the factory in Long Southeast Asia Industrial Park which is part of Cluster 04 of the Long An International Port project cluster invested by DTG in Can Giuoc District, Long An Province.
According to the cooperation agreement, DTG and its subsidiaries will lease 50 hectares of industrial and service land to CS Wind Vietnam. This land will be used to build a factory and storage yard for onshore, offshore wind towers, as well as wind energy products such as monopiles, transition pieces, and other materials, which will be supplied to the global market.

This project is considered as one of the largest wind power equipment production factories in the world at the time of project establishment, with a total first-phase investment of up to US$200 million. The expected capacity is up to tens of thousands of units per year, supplying oversized and overweight equipment ranging from 500 tons and up to 4,000 tons per item. In particular, all of the equipment and materials will be initially imported and exported through Long An International Port, estimated to be between 150,000 to 200,000 tons annually.

"Today's signing ceremony, witnessed by Long An Province officials, affirms the commitment of all parties involved in investing in this project. Long An Province places high importance on this project and its partners, committing to continuous support to the enterprises, investors, and Can Giuoc District for the project's successful implementation. Well-developed industrial parks not only attract investments but also significantly contribute to provincial revenues, creating more local jobs, and producing highly competitive domestic and export-quality consumer goods. In Long An, revenues from industrial parks account for nearly half of the total local state budget revenue. We always strive to build a trustworthy, transparent, and favorable investment environment in Long An Province," said Mr Nguyen Van Duoc, Member of the Central Committee of the Communist Party of Vietnam, Secretary of the Provincial Party Committee, and Chairman of the Provincial People's Council of Long An Province.

With the desire to contribute to the local industrial and socio-economic development, Mr. Vo Quoc Thang, Chairman of the Board of Directors of Dongtam Group, speaking on behalf of the Long An Southeast Asia Industrial Park investor, affirmed, "We are very excited to welcome a prestigious corporation such as CS Wind to invest in the Long An Southeast Asia Industrial Park Once the factory is operational, the equipment produced here will be efficiently exported to countries around the world through Long An International Port. This further reinforces the appeal of Long An Province's investment environment for international investors. We are also committed to creating the most favorable conditions for investors throughout the project implementation process."

The growth of import and export volumes through Long An International Port contributes to increasing local import and export turnover, boosting revenues, promoting local socio-economic development, developing logistics operations, and growing the regional economy.
According to the analysis by Bloomberg New Energy Finance (BNEF), with governments around the world actively promoting the development of green energy, wind and solar energy are expected to meet 56 percent of global electricity demand by 2050. Countries such as the US, China, and the European Union have set goals for developing carbon-free and carbon-neutral power grids, reflecting the global trend towards sustainable development. The project will contribute to ongoing efforts to localize Vietnam's wind power supply chain, as well as develop competitiveness in the international market.

According to Long An Province's plan for the period 2021-2030, with a vision to 2050, Long An will establish 10 logistics centers. This initiative aims to strengthen economic exchange between Long An Province and other provinces in the Southeast region and the Mekong Delta. Among these, Long An International Port, is already operational. It is part of a 1,935-hectare complex invested in by Dongtam Group, following a model that integrates an industrial park, an industrial service zone, and an urban area. Long An International Port not only stimulates investment and industrial development in the region but also contributes to alleviating congestion and reducing the burden on Ho Chi Minh City's port cluster. It shortens transportation time, optimizes logistics costs, mitigates risks, indirectly enhances the competitiveness of businesses, meets the increasing import and export demands of the Mekong Delta provinces, and promotes socio-economic development in the region.

Anticipating the wave of factory relocations from China, South Korea, Japan, and other nearby regions to Vietnam, Long An holds significant advantages from its proximity to Ho Chi Minh City, its vast land resources, and its easy connection to the national transportation system. This includes convenient road access (National Highway 1A, Ring Road 3, Ring Road 4, Ho Chi Minh City - Trung Luong - Can Tho Expressway, Provincial Road 830), railways, air connections to Tan Son Nhat International Airport and Long Thanh International Airport, and waterways via Long An International Port. With an area of 396 hectares, Long An Southeast Asia Industrial Park has become a focal point for attracting international investors, thanks to its convenient transportation connectivity and developed infrastructure. Its well-planned layout plays a vital role in promoting socio-economic development in the locality. The industrial park serves as a link in the multimodal trade network connecting industrial parks and clusters in the Mekong Delta, key economic regions like Ho Chi Minh City and the Southeast region, and other countries.

LONG AN INTERNATIONAL PORT
No. 68 Provincial Road 830,
Vinh Hoa Hamlet, Tan Tap Commune,
Can Giuoc District, Long An Province
www.longanport.com

Media Contacts:
ROSE CASTILLO YAP (Ms)
HEAD OF PORT COMMUNICATIONS & MARKETING
● Mobile: +84 76 351 6656
● Email: roseyap@longanport.com

NGUYỄN THỊ BÍCH LIÊN (Ms)
SPECIALIST - OFFICE OF THE BOARD OF DIRECTORS
● Mobile: +84 91 892 9286
● Email: lienntb@dongtam.com.vn

The Dong Tam brand was founded in 1969 in Vietnam, with core competencies in manufacturing and trading of construction materials, as well as interior-exterior decoration. Over its 55 years in the market and 20 years in the development and leasing of industrial park infrastructure, Dong Tam has continuously diversified its business, expanded its factories and warehouses nationwide, ventured into port operations, provided a full range of logistics services, and invested in many other high-potential fields.

CS Wind Corp. was founded in 1984 in Korea and is a leading corporation in the industry of manufacturing wind towers for the world's largest wind generators. In 2003, CS Wind established the first wind tower manufacturing company in Vietnam. This is the No. 1 core factory in Southeast Asia, reaching out to markets in Asia, the South Pacific and the United States, quickly becoming the world's top corporation in wind tower manufacturing. CS Wind currently operates manufacturing facilities in eight countries, including Vietnam, the United States, and Denmark.

This release was published on openPR.