en.Wedoany.com Reported - Aboitiz Group announced plans to acquire a 25% stake in Vietnam's Van Phong Power Company, which owns an operational 1,320 MW high-efficiency, low-emission coal-fired power plant.

Aboitiz Group is seeking to secure more power deals in Vietnam. Aboitiz Power Chief Financial Officer Sandro Aboitiz stated that the company is keen to continue investing in Vietnam's power sector, with business covering additional coal power investments, natural gas, and renewable energy.

In a statement on Monday, Aboitiz Group said its executives met with Vietnamese President To Lam on Sunday, the first day of his two-day official visit to the Philippines. The statement noted that the Vietnamese President expressed support for deepening cooperation between Vietnamese and Philippine enterprises.

Since 2014, the group has been operating in Vietnam through its food division.

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