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Lilama joins hands with Hyundai and Mitsubishi

From VietNamNet | June 15 , 2007

Lilama Corporation’s leaders, who are paying working visits to the Republic of Korea (ROK) and Japan, had working sessions with three big groups in the last few days, Hyundai, Mitsubishi and TKK-Toyo Kanetsu KK.

In Korea, Lilama’s officials met with Hyundai’s leaders, a big group known for its strength in power plant designing and heavy industry development.

Lilama and Hyundai have agreed to the detailed measures aiming to push up the cooperation between the two sides in consulting, designing and managing the implementation of the power source development projects (designed by Hyundai).

The two sides have also mentioned the possibility for the cooperation in building the factories specializing in making equipment for power plants (turbines, generators) with Hyundai Heavy Industries. The cooperation with Hyundai Motor has also been thought of.

In Japan, Lilama’s delegation met and worked with Mitsubishi’s leaders, a big industry group of the country and its subsidiaries, including Mitsubishi Trading, Mitsubishi Heavy Industries and Mitsubishi Metal One.

Lilama’s Director General Pham Hung and Mitsubishi Metal One’s Chairman and CEO Moriji Kanada signed an agreement on establishing a company which makes high-quality preliminarily treated steel and setting up a network for distributing the product in Vietnam.

With Mitsubishi Heavy Industries, the two sides have agreed to set up a working team (with three representatives from each side), which will programme and distribute works in power projects that each side will be responsible for. This will serve as the basis for the two sides to sign long term cooperation agreements on implementing power source development projects in Vietnam, which will be carried out under the mode of EPC (engineering, purchasing and construction).

Three of Mitsubishi’s experts will come to Vietnam to work at Lilama to implement the said agreements, which, according to Mr Hung from Lilama, were beyond their expectations of success.

Lilama and Mitsubishi Heavy Industries have discussed the establishment of a joint venture on building the ships capable to carry 100,000 tonnes. The shipbuilding yard is expected to be located in a place in the southern region of Vietnam.

Lilama and One Energy, a member of Mitsubishi Trading, had a working session aiming to speed up the implementation of the agreement signed before on the cooperation for the 1,200 MW Vung Ang 2 thermopower project.

A cooperation agreement on manufacturing big-capacity basins and containers for oil refineries and chemical plants has been signed between Lilama and TKK group. The agreement will help speed up Lilama’s execution work at the Dung Quat Oil Refinery.

In Japan, Lilama had a working session with Tokyo Mitsubishi - UFJ – ltd, the biggest bank in the country. The Japanese bank will provide long term loans to Lilama’s investment projects, while the bank’s Hanoi branch will provide short term loans for Lilama’s production and business activities.

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