Saturday, May 25,2024 - 6:13 GMT+7  Việt Nam EngLish 

Acuity Funding poured USD6.4 billion into projects of Tin Thanh Group 

 Monday, October 9,2023

AsemconnectVietnam - Tin Thanh Group (Tin Thanh Group) and Acuity Funding, capital arrangement and management organization, have just held a signing ceremony to approve capital funding.

According to the signing content, Acuity Funding confirmed the capital source agreed to provide Tin Thanh Group with a total of up to USD6.4 billion.
Of which, about USD1 billion will be used to develop 4 biomass power plants and thousands of hectares of sorghum growing in Central and Southern Vietnam.
About USD1.7 billion to build a tire retreading factory and truck service in South Carolina (USA) to serve more than 1 million trucks in the US with the goal of reducing emissions, saving costs and converting Use green energy. With this project, Tin Thanh Group was granted land and received support from the state of South Carolina with huge incentives of more than USD500 million.
In addition, approximately USD3.7 billion in funding to build a Green Hydrogen production facility in South Carolina. This project is being developed by Tin Thanh Group in cooperation with Air Products - a corporation worth USD67 billion on the NYSE. The output will bring a major change to the auto industry and especially outdated, polluting coal-fired power plants. Tin Thanh Group has received approval for land grant and investment incentives from the state of South Carolina.
"After the signing ceremony, the guaranteed capital will be ready to distribute and manage the implementation of business plans in each phase, starting to disburse from projects in the US in 2023", Chairman Tin Thanh Group Tran Dinh Quyen said.
Acuity Funding, the capital arrangement and management organization, operates as a global investment bank, entrusted by pension funds, investment funds, hedge funds, and insurance organizations in the UK, US and Australia. This organization has more than 30 years of operation and is the largest capital arrangement organization in Asia Pacific with projects in over 20 countries.
Acuity Funding is a non-controlling member of the Society for Worldwide Interbank Telecommunications (SWIFT) and has the capacity to arrange and manage hundreds of billions of USD for large-scale projects.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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