How do Medias consider ITA Group?

Long An authorities have agreed to ITA Group's project to develop a thermo-power plant with capacity of 600 megawatts that will be built in Can Duoc District worth some US$720mil, according to ITA Group.

Thai Van Men, general director of the group, told the Daily that ITA Group would carry out the project on 150 hectares to supply power for investors operating in HCMC's Tan Tao IP and Long An Province's Tan Duc IP, which are both developed by the group.

The investor expects to start work on this power project late next year or early 2009 for completion in 2013.

Earlier, ITA Group also has prepared a plan to develop a large-scale power plant in Kien Luong District of Kien Giang Province.

ITA Group will spend US$5.3bil on the 4,400-megawatt thermo-electricity station, and construction will start in 2012. The project has been agreed in principle by the Government.

Both plants will be developed under the form of Build-Operate-Own (BOO) and will run on coal to be imported from Australia and Indonesia, according to the ITA Group.

Apart from projects to develop these two power plants, ITA Group is also keen on road and bridge projects, and has setup Ita Freeways Co. in Long An to take charge of this business sphere.

The company, capitalized at VND1tril, is seeking approval for its first project being an expressway connecting HCMC with Long An. The expressway will link HCMC and Long An, and the company could recoup the investment via toll collections on the busy route.

Recently, authorities of both HCMC and Long An have approved in principle on the expressway project, allowing ITA to develop the 60-km road between Tan Son Nhat Airport in HCMC and Tan An Town in the province.

The road to be developed under the Build-Operate-Transfer form will have four lanes in HCMC and six to eight lanes in Long An. The cost is estimated at some US$1bil.

(Source: SGT)