Mr. Joshua Yeoh Keong Junn – General Director of Fico Tay Ninh Cement Joint Stock Company – answered Tuoi Tre Online’s question about business expansion plans in Vietnam – Photo: SA
On January 15, YTL Group said that after 5 years of investing in Vietnam, YTL aims to not only invest heavily in the cement industry but also participate in the energy sector, providing electricity and water in Vietnam.
At the 70th anniversary celebration of YTL held in Ho Chi Minh City on the evening of January 15, Mr. Joshua Yeoh Keong Junn - General Director of Fico Tay Ninh Cement Joint Stock Company (Fico-YTL), a member of YTL Group - said that Vietnam has always been a strategic market in the region that YTL Group focuses on.
Responding to Tuoi Tre Online , Mr. Joshua Yeoh Keong Junn said that the group has signed a strategic cooperation agreement with NVIDIA Corporation to build a data center serving both Malaysia and Singapore, as a premise for data processing needs in the Asia- Pacific region.
Meanwhile, NVIDIA has also announced that it will open a factory in Vietnam and the "supercomputers" will need huge energy and water sources, so Mr. Joshua Yeoh Keong Junn revealed that the group is considering investing in the energy and water industries to serve these data centers.
In the global market, YTL is mainly active in the construction industry, including real estate development, infrastructure investment, telecommunications and construction materials production, currently operating in 12 countries. YTL Group has a capitalization of up to 7.5 billion USD.
According to Mr. Joshua Yeoh Keong Junn, YTL's development strategy as well as its investment in Vietnam is a commitment to sustainability, focusing on circular economy , carbon emission reduction and renewable energy application.
In Vietnam, Fico Tay Ninh Cement Joint Stock Company is a member of YTL Group, currently one of the leading cement companies in the South.
Mr. Nguyen Cong Bao - CEO of Fico Tay Ninh Cement Joint Stock Company - said that besides investing more capital in the cement industry, YTL will invest in potential industries such as data centers through investment options, including M&A (mergers and acquisitions).
In Vietnam, Fico Tay Ninh Cement Joint Stock Company is supplying “green cement”, with carbon emissions at least 30% lower than conventional cement.
According to Mr. Nguyen Cong Bao, the enterprise has processed and reused about 70,000 tons of waste each year, reducing CO₂ emissions equivalent to 1.84 million trees.
“With a carbon neutral strategy by 2050, the company is committed to focusing on producing low CO₂ emission cement products that meet environmental standards and are green labeled,” said Mr. Bao.
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