On May 6, 2024, Northern Electricity Development & Investment JSC No.2 (NEDI2) celebrated its 20th anniversary of establishment (May 6, 2004 - May 6, 2024) at the Vinaconex headquarters. Chairman Dao Ngoc Thanh, along with the Corporation's Board of Directors, shareholders' representatives, and partner units, graced the event and extended their congratulations.
Twenty years ago, on May 6, 2004, VINACONEX Corporation established NEDI2 to implement the investment project for the Ngoi Phat Hydroelectric Plant, as part of the strategy to become the leading multi-industry economic corporation in the country.
The ceremony was held solemnly, with the participation of partners, guests and the Board of Directors of VINACONEX Corporation.
Throughout the 20-year journey of construction and growth, with the support of shareholders and partners, the effective management of its Board of Directors and Board of Management, especially the dedication and hard work of entire employees, NEDI2 has successfully overcome all challenges, becoming a leading brand in hydropower and one of the most effective members of VINACONEX, ensuring employee well-being and delivering robust returns for shareholders
Mr. Do Vuong Cuong, General Director of NEDI2 stated that Ngoi Phat Hydropower Plant is projected to generate 4 billion kWh of electricity by August 2024.
According to Mr. Do Vuong Cuong, General Director of NEDI2, since its inauguration on December 27, 2014, Ngoi Phat HPP has successfully operated all three units and become the largest electricity producer in Lao Cai province. It contributes approximately VND 100 billion annually to the budget and generates average revenues of around VND 400 billion. The plant achieved electricity generation milestones of 1 billion kWh in 2017, 2 billion kWh in 2019, and 3 billion kWh in 2022. By August 2024, it is expected to reach 4 billion kWh, marking nearly VND 4,000 billion in total revenue from 2015 to 2024, with annual dividends ranging between 20-30%
Partners, guests, unit leaders, and NEDI2 staff attended the event
The General Director of NEDI2 expressed deep gratitude to construction contractors, consulting units, credit institutions, and particularly the guidance from VINACONEX Corporation's leaders and the support of local authorities. Their assistance has helped NEDI2 team to successfully complete tasks, promote the company's culture, drive new achievements and foster sustainable and effective development on the foundation laid over the past 20 years
Mr. Duong Van Mau, the Standing Deputy General Director of Vinaconex and Chairman of NEDI2’s BOD spoke at the event.
Chairman of the Board of Directors of NEDI2 Duong Van Mau affirmed NEDI2's crucial role and significant contributions to the Corporation's production and business activities. He further outlined NEDI2's plans to partner with its shareholder - TOYOTA TSUSHO to upgrade the company's management system to meet international standards.
Mr. Raiko Suzuki, Director of the Energy Division at TOYOTA TSUSHO Corporation
Representative of TOYOTA TSUSHO Corporation (NEDI2's shareholder), Mr. Raiko Suzuki - Director of Energy Division, congratulated NEDI2 JSC on the successful 20-year journey of construction and growth. He expressed optimism for continued collaboration among TOYOTA TSUSHO, NEDI2 and VINACONEX, aiming to bring value to the project and ensure stable, clean electricity for Vietnam in the future
Chairman of Vinaconex’s Board of Directors Dao Ngoc Thanh expressed gratitude and congratulations for the successful partnership between TOYOTA TSUSHO Corporation and VINACONEX Corporation.Mr. Dao Ngoc Thanh, Chairman of VINACONEX Corporation’s BOD and Secretary of the Party Committee, delivered a speech congratulating NEDI2.
In the event, the chairman expressed appreciation on behalf of the Corporation's leadership to the officials and employees of NEDI2 over the years. He also thanked the company's Board of Directors for their unwavering support and dedication in finding optimal solutions for production operations to maximize efficiency.
Established on May 6, 2004, NEDI2's officials and employees have made pioneering strides in construction and development over the last two decades. With a strong determination to contribute, NEDI2 is poised to achieve new heights in electrical energy production and continue benefiting the community and society.
Some photos of NEDI2's Ngoi Phat Hydropower Plant
Construction of the Ngoi Phat hydropower plant began in 2003 and was officially inaugurated on December 27, 2014, in San Bang village, Ban Vuoc commune, Bat Sat district, Lao Cai province. The project was invested in by Northern Electricity Development & Investment JSC No.2 (NEDI2)The plant's initial capacity was 36MW, which was then adjusted to 57MW in 2005, increased to 72MW in 2007, and expanded by 12MW in 2020, resulting in a total capacity of 84MW.Ngoi Phat HPP has the largest electricity output and the most significant positive impact on Lao Cai province, contributing approximately VND 100 billion annually to the budget and generating an average revenue of around VND 400 billion.NEDI2 Company has achieved electricity generation milestones of 1 billion kWh in 2017, 2 billion kWh in 2019, and 3 billion kWh in 2022. It is expected to reach 4 billion kWh by August 2024, marking 20 years since the company's establishment and nearly a decade of operation.
