Amkor Technology, a leading global semiconductor packaging and test services company, has revealed that its $1.6 billion project in Vietnam is expected to employ approximately 2,800 workers during stable operations. The project, located in the northern province of Bac Ninh, is currently in its initial phase of operation, with the first phase already reaching 70% capacity. The second phase is underway, with machine installation progressing towards full operations by September 2025. The factory is designed to produce 600 million units annually in its initial phase and 1.2 billion units annually upon full completion. This translates to a production capacity of 210 tons and 420 tons, respectively. To support its operations, Amkor estimates a monthly electricity demand of 4.51 million kWh, which may increase to 15 million kWh during peak production. The company is actively seeking approval to upgrade its capacity to 900 million units per year, equivalent to 315 tons of output. This significant investment by Amkor Technology underscores the growing importance of Vietnam as a manufacturing hub for the semiconductor industry. The project will contribute to the country’s economic growth and technological advancement.
Tokyo Gas is actively exploring opportunities to expand its renewable energy portfolio in Southeast Asia. The company is currently considering five to ten wind power projects in the region, particularly in Vietnam. The decision to invest in Southeast Asia aligns with Tokyo Gas’ broader strategy to accelerate its transition to renewable energy and reduce its carbon footprint. By tapping into the region’s abundant wind resources, the company aims to strengthen its position as a global energy player. The targeted wind power projects are expected to have a capacity of 50 to 100 megawatts each. Tokyo Gas plans to collaborate with local partners to identify suitable sites and secure necessary permits. The company aims to make final investment decisions on some of these projects as early as 2025. This initiative is part of Tokyo Gas’ broader goal of increasing its overseas earnings to ¥50 billion ($333 million) by 2030. The company has already made significant strides in the renewable energy sector, including the development of a large-scale solar power plant in the United States and investments in European wind power projects. “Wind power projects are efficient, because the per-project investment is high,” Takashi Nakao, head of its subsidiary in Singapore, Tokyo…
A groundbreaking project has been launched to protect and restore South Dongting Lake in Hunan Province, China. This initiative, the first under the Regional Flyway Initiative (RFI), marks a significant step towards safeguarding critical wetland habitats for migratory birds across the East Asian-Australasian Flyway. The RFI, a collaborative effort between BirdLife International, the Asian Development Bank, and the East Asian-Australasian Flyway Partnership (EAAFP), aims to finance and implement projects that balance conservation and economic development. By investing in wetland restoration and sustainable practices, the RFI seeks to improve the livelihoods of local communities while protecting biodiversity. South Dongting Lake, a vital habitat for thousands of migratory birds, has faced increasing pressure from human activities and climate change. The project will address these challenges through a range of measures, including wetland restoration, sustainable agriculture practices, and community-based conservation initiatives. The Asian Development Bank, in partnership with the Yuanjiang Municipal Government, the Hunan Provincial Government, and the Agence Française de Développement, has committed $308 million to support this ambitious project. The funds will be used to restore nearly 12,000 hectares of degraded wetland, improve water quality, and strengthen the lake’s ecological resilience. By protecting South Dongting Lake, the project will not only…
The Accelerate Prosperity in Central and South Asia (AP Asia) initiative, a joint effort between the European Union and the Aga Khan Foundation, has successfully empowered thousands of entrepreneurs across Pakistan, Afghanistan, Kyrgyzstan, and Tajikistan. Over the past four years, AP Asia has supported more than 2,800 entrepreneurs, leading to the creation of 4,746 full-time jobs. This initiative has been instrumental in fostering economic growth and creating sustainable livelihoods, particularly for women and youth. Speaking at the AP Asia Dissemination Event held at the Serena Hotel in Islamabad, Head of Cooperation for the EU Delegation to Pakistan Jeroen Willems highlighted the transformative impact of the initiative. “Pakistan and countries in the region can bank on a lot of talented young entrepreneurs. They can create jobs, drive innovation, and spur growth. With EU-funded programs like AP Asia, we are helping unleash the full potential of start-ups by combining talent with expertise and soft loans,” Willems said. Akhtar Iqbal, CEO of AKF Pakistan, talked about the collaborative nature of the project. “By empowering entrepreneurs and facilitating access to essential resources, we are not only creating employment opportunities but also building resilient communities capable of driving long-term growth. AP Asia is a testament…
A recent analysis by Wood Mackenzie, commissioned by the Asia Natural Gas and Energy Association (ANGEA), warns that the U.S.’s pause on new LNG export projects could significantly hinder Asia’s transition to cleaner energy sources. The report highlights that the U.S. moratorium on non-FTA LNG exports could lead to higher global LNG prices, making it more difficult for emerging Asian economies to shift away from coal and towards cleaner fuels. This could result in increased greenhouse gas emissions and slower progress towards climate goals. The study emphasizes the importance of affordable and reliable LNG supplies for Asia’s growing energy demand. The U.S. has emerged as a major supplier of LNG, offering competitive prices and a reliable source of energy. However, the current policy stance could limit the country’s ability to meet future demand. Wood Mackenzie predicts that if the U.S. maintains its current policy, emerging Asian economies may be forced to turn to less environmentally friendly alternatives, such as coal, to meet their energy needs. This could have significant implications for global climate change. The report underscores the need for a balanced approach to energy policy that considers both domestic energy security and international climate goals. By lifting the moratorium…
Vietnam has made a significant stride towards modernizing its transportation infrastructure with the approval of a massive high-speed railway project. This ambitious endeavor, spanning 1,541 kilometers (957.5 miles), will connect 20 provinces and cities across the country, including popular tourist destinations like Hanoi and Ho Chi Minh City. The North-South high-speed railway is expected to revolutionize transportation in Vietnam, reducing travel times and boosting economic growth. The project will facilitate the movement of people and goods, improve connectivity between urban and rural areas, and stimulate tourism. The Vietnamese government has recognized the transformative potential of this project and has allocated substantial funding for its implementation. The estimated cost of the railway is a staggering 1,700 trillion Vietnamese Dong (£52.72 billion). While the project is expected to deliver significant benefits, it also presents significant engineering and logistical challenges. Constructing a high-speed railway through diverse terrain, including mountainous regions and coastal areas, will require careful planning and execution. As the project progresses, it will be closely watched by the international community as a major infrastructure undertaking in Southeast Asia. The successful implementation of this ambitious project could position Vietnam as a regional transportation hub and drive economic development for years to come.
CNOOC Limited has announced the commencement of production at its Jinzhou 23-2 Oilfield Development Project. This significant milestone marks a key step in the company’s efforts to strengthen China’s energy security. The project, located in the Bohai Sea, is expected to reach peak production of approximately 17,000 barrels of oil equivalent per day in 2027. The oilfield, characterized by heavy crude oil, will utilize advanced steam stimulation and chemical auxiliary steam flooding techniques to improve oil recovery rates. “It is important that we implement strategically planned, well-designed projects with meaningful positive impacts,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “This facility will ensure that ADB-financed projects respond to the needs of the country and improve access to public services for poor and vulnerable households.” The development involves the construction of two new central processing platforms and the drilling of 67 wells, including 65 production wells and 2 water injection wells. “The SEFF is an innovative modality as it enables flexibility in project preparation, pilot testing, and capacity development,” said ADB Economist and project co-team leader Jules Hugot. “The project will help pilot-test advanced technologies and innovative project financing and implementation approaches to help reduce project life-cycle…
The Asian Development Bank (ADB) has approved a $22.58 million Small Expenditure Financing Facility (SEFF) to support the Kyrgyz Republic in strengthening its project preparation and implementation capacities. The SEFF will provide technical assistance and financing for various projects in key sectors, including public transport, energy, urban development, and health. The first project to be supported under the SEFF will focus on expanding the electric bus fleet and dedicated busways in Bishkek, contributing to improved air quality and reduced greenhouse gas emissions. “It is important that we implement strategically planned, well-designed projects with meaningful positive impacts,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “This facility will ensure that ADB-financed projects respond to the needs of the country and improve access to public services for poor and vulnerable households.” The Kyrgyz Republic is particularly vulnerable to the impacts of climate change, with its economy heavily reliant on agriculture and hydropower. The SEFF will support projects that address climate change challenges, such as improving energy efficiency, promoting renewable energy, and enhancing water resource management. The Kyrgyz Republic is highly vulnerable to climate change because its economy is closely tied to agriculture and hydropower, which are affected by climate…
Saipem, a leading global provider of engineering, procurement, construction, and installation services for the energy industry, has been awarded a significant EPCI contract by BP Berau for the Tangguh UCC project in Indonesia’s Papua Barat province. Valued at $1.12 billion, the contract encompasses the development of the Ubadari field, the implementation of enhanced gas recovery through carbon capture, utilization, and storage (CCUS) technologies, and the construction of onshore compression facilities. The project will involve the fabrication and installation of two new wellhead production platforms at Ubadari, a wellhead platform for CO2 re-injection, and approximately 90 kilometers of subsea pipelines. Saipem’s fabrication yard in Karimun, Indonesia, will play a crucial role in the construction of these offshore platforms. The Tangguh UCC project is a strategic initiative aimed at maximizing gas recovery and reducing carbon emissions. By capturing and re-injecting CO2, the project will contribute to a more sustainable and environmentally friendly energy future. Saipem’s expertise in offshore engineering and construction will be instrumental in delivering this complex project on time and within budget. The company’s commitment to innovation and operational excellence will ensure the successful execution of the project, benefiting both BP Berau and the Indonesian economy.
In a significant development for India’s naval capabilities, France has offered advanced pumpjet propulsion technology for the country’s next-generation diesel-electric and nuclear-powered attack submarines. This technology, already operational in the French Barracuda-class submarines, is renowned for its stealth capabilities. Pumpjet propulsion systems are known for their reduced acoustic signature compared to traditional propeller systems. By adopting this technology, India’s submarines would gain a significant advantage in underwater operations, enhancing their stealth and maneuverability. This would enable the Indian Navy to operate more discreetly in the Indian Ocean region. The potential acquisition of this technology underscores the growing defense partnership between India and France. The two nations have been actively collaborating on various defense projects, including joint military exercises and co-development of military hardware. This move by France highlights the increasing importance of advanced submarine technology in modern naval warfare. By equipping its submarines with cutting-edge propulsion systems, India aims to strengthen its naval forces and safeguard its maritime interests.
