Keppel Group and Sovico Group to cooperate on sustainable energy and urbanisation solutions in Vietnam

Source: press release, 25 February 2022

CEO of Keppel Corporation, Loh Chin Hua
CEO of Keppel Corporation, Loh Chin Hua (photo: Keppel)

The Keppel Group and Sovico Group, through their respective subsidiaries, have signed two memoranda of understanding (MoUs) to collaborate to explore the development and roll-out of energy and environmental solutions, as well as identify, develop, operate and manage smart and sustainable projects in Vietnam’s key gateway cities, starting with Ho Chi Minh City (HCMC) and Hanoi. The MoUs were signed in the presence of H.E. Nguyễn Xuân Phúc, President of the Socialist Republic of Vietnam, who is on a state visit to Singapore.

This collaboration marks a milestone in the strategic partnership between two leading corporations – leveraging the strengths of Keppel, a powerhouse of solutions for sustainable urbanisation, as well as Sovico Group’s proven track record and presence across a wide range of businesses including banking and finance, real estate, aviation and energy.

Loh Chin Hua, CEO of Keppel Corporation, says, “Keppel is pleased to extend our collaboration with Sovico Group to provide sustainable energy and urbanisation solutions for Vietnam. Keppel has been investing in Vietnam for over three decades, and we are glad to contribute further to Vietnam’s development. The signing of the two MoUs is very much in line with Keppel’s Vision 2030, where we seek to provide solutions for sustainable urbanisation, including energy and environmental solutions, as well as master planning and the development of smart and sustainable cities.”

Pham Khac Dung, Vice President of Sovico Group, affirms, “Sovico Group supports the efforts of the United Nations towards sustainable development and is committed to extend our cooperation with like-minded partners across the globe. The partnership with Keppel further strengthens Sovico’s development strategy. We are pleased and honoured to join Keppel in growing the Vietnam-Singapore strategic partnership to new heights; and expanding cooperation into new growth areas on the basis of promoting solutions for people and people-centred developments, as well as creating environmentally friendly developments that contribute to the prosperity and sustainable development of the two economies.”