10:15 | 20/05/2014 Companies
(VEN) - In 2013, thanks to the efforts and unity of its leadership and employees, the Thac Ba Hydropower Joint Stock Company (Thac Ba Hydropower JSC) achieved an electricity output 106.9 percent of the year’s target. Referring to other norms, the company reached or exceeded the targets. These achievements paved the way for the company to improve capability and reach new developments.
Thac Ba Hydropower JSC Management Board Chairman and General Director Nguyen Quang Thang
Under its development strategy to 2020, apart from achieving a high growth in electricity production, revenue and profits, the company will modernize the power plant, invest in small to medium-sized hydropower projects and develop business lines pertaining to electricity production.
The company will kick off investment in small to medium-sized hydropower projects this year, including the Hung Loi hydropower project. The deal with Hung Loi is feasible as the investment cost is not high and the project is located near the company’s power plant so management will be convenient. The company is negotiating with the project’s investor to buy the project and if the negotiations are successful the project will be implemented in the fourth quarter of this year. The company will make use of water in the lower stretch of Thac Ba Lake to build a new power plant. The company has proposed that the Yen Bai Province People's Committee and other relevant authorities permit it to research this project. The project will be implemented immediately after it is approved.
In 2014, the company will improve the organization of the technical service center to transform the center into a limited technical service company. The center was established to repair equipment at the Thac Ba Hydropower Plant. Based on the strength of its engineers, the center accomplished technical service contracts, contributing to improving its prestige and increasing the company’s profit. Many projects have been highly rated by investors and partners, including management in and staff training for the Thai An hydroelectric plant in Ha Giang Province and Song Mien, Song Chay 5, Bat Dai Son and Van Chan hydropower plants, transformer repair at the Yen Bai Power Company, and surveillance in a number of hydropower plants. In the first quarter of 2014, the center signed and implemented nine service contracts earning revenue of more than VND2 billion.
Thac Ba Hydropower has been running as a joint stock company since 2006 and its growth has increased yearly since then. The company always exceeded its power output targets, while its shares have attracted investors.
Thac Ba Hydropower JSC Management Board Chairman and General Director Nguyen Quang Thang is determined to create a breakthrough for the company, expand its scale of production, improve capacity, increase wages and improve the company’s position in the market. He said that each new orientation sets new difficulties and challenges for the company’s leadership and employees but the company’s employees are willing to overcome difficulties to develop the company./.
By Dang Hien