Under the MoU, Timar will invest in development of new technology in the renewable energy sector in Ninh Thuan, with a total capital of 800 million USD. It is expected to finish all procedures and start work in 2012.
The Malaysian business will build factories to manufacture spare parts for the wind power sector, supporting the province in providing lighting on major streets as well as building other works in the province.
The business also pledged to provide capital and technology if other wind energy projects in Ninh Thuan can be run on a cooperative basis with Timar.
Chairman of the provincial People’s Committee Nguyen Duc Thanh said the province will support the plans of Timar, creating favourable conditions for Timar to complete all legal procedures relating to investment, to promptly implement the project.