Shareholder Meeting to Set Up Ba Ria Thermal Power Joint Stock Company

16/10/2007 00:00:00 - views: 1,849

As revealed by Ba Ria Thermal Power Company, on October 23rd, the company had organized the first Shareholder Meeting to set up Ba Ria Thermal Power Joint Stock Company.

           

In this meeting, shareholders voted to approve the business strategy and the plan of listing stocks on the Security Trading Center after equitization. The meeting also passed the Charter of Joint Stock Company and elected the Board of Management, Control Committee, the Chairman and the President of the company. 

Before equitization, Ba Ria-Vung Tau Thermal Power Company is an accounting unit depending on the Vietnam Electricity with the charter capital of VND 604.856 billion. Through two turns of auction on March 15th and July 9th, the Vietnam Electricity has already held 79.55% of the company’s charter capital.

Ba Ria-Vung Tau Thermal Power Company which has the capacity of 388.9 MW was founded on December 24th 2002. Despite operating and exploiting for over 10 years, the company can still produce the energy up to 85-90% of the formulated capacity thanks to the periodical huge investment in repairing and upgrading the equipment, of which there are many that have been amortized. For the time being, Ba Ria Thermal Power Company is capable of retaining the power production of more than 2 billion kWh annually.

By: Nguyễn Kim Anh

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