Vice Chairman of the Provincial People's Committee Pham Van Thinh received and worked with leaders of Shemar Power Electricity Company.

BAC NINH - On the afternoon of September 23, Comrade Pham Van Thinh, Member of the Provincial Party Standing Committee, Vice Chairman of the Provincial People's Committee, Head of the National Assembly Delegation of Bac Ninh province received and worked with the delegation of Shemar Power Company (China) to learn about the investment environment in Bac Ninh province.

Also attending were representatives of the leaders of the Departments of Finance, Industry and Trade, Science and Technology; Provincial Industrial Park Management Board; Provincial People's Committee Office; Bac Ninh Provincial Tax Department; Bac Ninh Electricity Company.

Comrade Pham Van Thinh discussed with leaders of Shemar Power Electricity Company.

At the meeting, Mr. Ma Bin, founder and Chairman of the Board of Directors of Shemar Power Company, informed that the Company was established in 1996, headquartered in Jiangsu province (China).

Shemar Power Company is a high-tech enterprise, specializing in scientific research, technology development, new product features, product improvement, old processes to optimize costs, production efficiency and manufacturing electricity products from new materials.

The market size has increased from 50 thousand USD initially to 1.5 billion USD today. The Company's products have been applied in more than 100 countries, customers are the world's leading power grid companies and electrical equipment manufacturers; is one of the leading enterprises in external insulation with new materials, has 12 product lines of self-research, invention and commercialization.

According to Mr. Ma Ban, the Company is expected to invest in Gia Binh 2 Industrial Park in 2 phases. Phase I (2025-2030), the enterprise will build factory 1 to produce electrical equipment insulators, bushings, and electrical gaskets. Factory 2 will produce line insulators, distribution beams, and transformer station insulators; with an output value of 450 million USD. Total investment capital in phase I is 90 million USD; total land area used is 28 hectares; total output value is more than 600 million USD/year; creating jobs for more than 1,600 workers.

In Phase II (2027-2033), the Company will build 3 more factories to produce electrical equipment insulation components, aluminum components for electrical equipment and new material transformers. The total product value is about 537.5 million USD/year; the total land area used is about 14 hectares.

Working scene.

Speaking here, comrade Pham Van Thinh expressed his joy at welcoming the delegation of Shemar Power Electricity Company to work in the province, and congratulated the results in revenue and production and business activities that the Company has achieved.

Shemar Power Company chose Bac Ninh as an investment destination because the province has many strengths, holds an important position in the key economic region of the North, right next to Hanoi city, close to Hai Phong, located on the trans-Asian corridor, close to China.

The transport and logistics infrastructure is diverse and synchronous. The province has a developed industrial planning with more than 50 industrial parks, of which more than 20 are in operation. Foreign investors (FDI) have chosen to invest in Bac Ninh with 2,800 projects, with a total investment capital of 45 billion USD...

After the merger, Bac Ninh has the 5th economic potential in the country with many prospects, infrastructure and potentials, advantages, this position will not stop but continue to improve.

Currently, the province is deploying and implementing many key transport infrastructure projects, including Gia Binh International Airport. The project is built according to the standards of a level 4E international airport, oriented to develop according to the new generation smart airport model, synchronous application. The project will be completed by the end of 2026, so it will be very favorable if Shemar Power Company invests in Bac Ninh.

Comrade Pham Van Thinh affirmed that Bac Ninh province is committed to accompanying and providing maximum support for businesses to invest effectively in the area. Over the past years, FDI and domestic enterprises have been supported by the province in administrative procedures, electricity supply, infrastructure as well as resolving problems arising in the production and business process.

He hoped that the working delegation and leaders of Shemar Power Company would speed up the survey progress and soon make investments in Bac Ninh.

News and photos: The Dai

Source: https://baobacninhtv.vn/vice-chairman-of-the-provincial-government-pharm-van-thinh-tiep-va-lam-viec-voi-lanh-dao-cong-ty-dien-luc-shemar-power-postid427167.bbg