PetroVietnam Power Corporation has received interest from buyers from Germany, Japan, India and beyond in asset sale. The government's hunt for overseas investment has yielded interest from firms including Siemens Aktiengesellschaft (BUSE:SIEMENS), Idemitsu Kosan Co.,Ltd. (TSE:5019) and Indian Oil Corporation Limited (BSE:530965), among others, according to Deputy Industry and Trade Minister Hoang Quoc Vuong. “We are actively in the process to find foreign investors” and intend to finalise the deals by year end, Hoang Quoc Vuong said in an interview in Hanoi last Thursday, adding that the timeline for the stake sales was set by Prime Minister Nguyen Xuan Phuc.

PetroVietnam Oil is working with Idemitsu and SK Innovation Co., Ltd. (KOSE:A096770) (SK Energy Co. Ltd.) on a strategic partnership. PetroVietnam Power is in discussions with foreign investors including Siemens, Ratchaburi Electricity Generating Holding Public Company Limited (SET:RATCH) and Taekwang Industrial Co., Ltd. (KOSE:A003240) on a key stake purchase.

Binh Son Refining and Petrochemical Company Limited is in talks with Indian Oil about a partnership. Indian Oil is doing due diligence on the deal before firming up a price.