Mr. Tran Huy Tuan - Chairman of Yen Bai Provincial People's Committee handing over the Decision approving the project's investment policy to EREX Joint Stock Company. Photo: Thanh Tien

Erex Sakura Yen Bai biomass power plant is located in Bac Van Yen industrial cluster, Dong Cuong commune, Van Yen district. The project is owned by Erex Joint Stock Company (Japan) and Sakura Green Energy Joint Stock Company.

Participants performing the groundbreaking ceremony for the Erex Sakura Yen Bai biomass power plant.

The first EREX Joint Stock Company's project to be implemented in Vietnam

The groundbreaking ceremony was attended by Mr. Tran Huy Tuan - Deputy Secretary of Yen Bai Provincial Party Committee, Chairman of the Provincial People's Committee; leaders of agencies, departments and branches within the province.

The Japanese participants include Mr. Hayashi Motoo - General Secretary, Vice Chairman of the Japan - Vietnam Parliamentary Friendship Alliance; Mr. Miyauchi Hideki - Member of the Japan - Vietnam Friendship Parliamentary Alliance; Mr. Honna Hitoshi - Chairman and General Director of EREX Joint Stock Company.

 The Japan - Vietnam Parliamentary Friendship Alliance and Japanese business partners at the Groundbreaking Ceremony.

The Erex Sakura Yen Bai biomass power plant project has a scale of 3 hectares, with the primary products being biomass pellets and wood chips. The plant is designed to produce 150,000 tons of biomass pellets per year; 150,000 tons of wood chips per year. Additionally, the plant is expected to trade 350,000 tons of woodchip products every year.

The project will contribute to creating employment opportunities for the residents of Yen Bai province as well as promoting economic recovery. Out of the 14 projects that EREX Joint Stock Company implements in Vietnam, this is the first to be put into operation.

EREX Joint Stock Company is currently proposing to invest in the construction of a biomass power plant in Yen Bai province, where wood pellets are the main source of raw materials. Accordingly, the pellets will help ensure a stable operation, bring about high economic value, provide a stable source of power, and support the economic development needs of Yen Bai province.

Moreover, this is a solution that utilizes waste wood products from the wood processing industry, resulting in an environmentally friendly fuel that increases the economic value of the logging and wood processing industry in Yen Bai province. The project will also supply the market with a substantial amount of low-cost, clean and environmental-friendly fuel products which will gradually replace the increasingly scarce fossil fuels such as coal, oil, gas, charcoal, etc.

In response to the initial successes of Erex Group and Yen Bai province in attracting and calling for investment, Mr. Hayashi Motoo expressed his belief that the project will further promote the development of biomass power technology in Vietnam. On the other hand, the project will attract the attention of investors from around the world. The Japanese government has shown great interest in this project as an advanced decarbonization project in Southeast Asia.

Mr. Hayashi Motoo affirmed that Yen Bai province is one of the most suitable sites for biomass power generation due to its rich terrain and natural resources. According to him, the project will construct the first large-scale biomass power plant in Vietnam, marking an important milestone in the future of Vietnam's biomass power generation.

At the ceremony, Mr. Tran Huy Tuan expressed his appreciation towards the Japanese investors for selecting Yen Bai province as the project site. The wood pellet production project owned by Erex Joint Stock Company and Sakura Green Energy Company suitable for the socio-economic development orientation as well as the investment priorities of Yen Bai province. In addition, the project will help  promote the national strategy on green growth and the Government's commitment to reduce Vietnam's net emissions to zero by 2050.

Yen Bai is dedicated to creating the most favorable conditions for businesses to invest in the province by accompanying and considering them as the primary beneficiaries.

At the groundbreaking ceremony, the Chairman of Yen Bai Provincial People's Committee awarded the project investment registration certificate to EREX Joint Stock Company.

The groundbreaking ceremony for the Erex Sakura Yen Bai biomass power plant project marks a new page in the attraction of investment, especially for foreign direct investment projects in Yen Bai province.