According to information on the Hai Phong City Electronic Portal, the list of businesses that have sponsored the “Hai Phong – Welcoming the New Year 2024” art program and the New Year’s Eve of the Lunar New Year Giap Thin – 2024 has a secretive business alongside “famous” names such as Hoang Huy Group, BRG Corporation, Vingroup, and 319 Corporation. Giang Nam Petroleum Joint Stock Company is among the top 5 largest sponsoring businesses.
Specifically, the company has sponsored Hai Phong City with 500 million VND, ranking just below Sao Do Group, Vingroup, Hoang Huy Group, and on par with BRG Group, and surpassing 319 Corporation, Deep C, Sun Group…
Source: haiphong.gov.vn
According to research, Giang Nam Petroleum Joint Stock Company (Giang Nam Petrol) was first established on May 29, 2019, with an initial charter capital of only 5 billion VND granted by the Hai Phong Planning and Investment Department. However, by August 2023, after several increases, the company’s charter capital reached 268 billion VND, 54 times higher than its initial capital after 4 years of establishment.
The legal representative and General Director of the company is Mr. Nguyen Trong Ngoc (born in 1970). The company’s main business activities are production and trading of petroleum products, wholesale and retail of petroleum products in the domestic market, and logistical activities in the petroleum market both domestically and internationally. In addition, Giang Nam Petrol has registered for other industries such as real estate, construction, textile and garment, and ceramics production in its business registration.
A Giang Nam Petrol gas station
Apart from the headquarters in Hai Phong, Giang Nam Petrol has also opened representative offices in Hanoi, branches in Ha Tinh and the Southwest region. However, its highlight is the “invasion” into the Ha Tinh market. In April 2021, Giang Nam Petrol established a branch in Vung Ang Economic Zone, Ky Anh Town.
Giang Nam Petrol has been granted an investment decision by Ha Tinh province to carry out multiple projects in recent years. Specifically, on November 24, 2022, the management board of Ha Tinh Economic Zone approved the investment decision and allowed investors to implement the project to construct the Giang Nam Petroleum Warehouse. The project covers an area of about 5 hectares in Vung Ang Economic Zone, Ky Loi Commune, Ky Anh Town, Ha Tinh province. The project is designed with a capacity of 60,000 m3, storing crude oil and petroleum products, with a total investment of about 500 billion VND.
According to the plan, phase 1 of the project will commence in Q1/2023 and officially operate from Q1/2025. Phase 2 and phase 3 will be implemented from 2026 to 2031.
In Ha Tinh, Giang Nam Petrol has also been entrusted with nearly 1 hectare of “golden land” along Ngoc Quyen Street (next to the intersection of Ngoc Quyen Street – Old National Highway 1A, near the approval point of the two residential areas along Ngoc Quyen Street and the riverside Cau River residential area, Thach Ha District) in Thach Trung Commune, Ha Tinh City to build a combined headquarters and Giang Nam Petroleum gas station. The project has been approved by the Ha Tinh Province People’s Committee in early February 2023. The land lot in Ha Tinh will be used by Giang Nam Petrol to construct a 5-story office building and a grade 3 gas station with a designed capacity of 6 fuel pumps, 2 oil tanks with a capacity of 25m3 each, and 2 gasoline tanks with a capacity of 25m3 each.
Furthermore, on August 28, 2023, Giang Nam Petrol was granted a license by the Ha Tinh Province People’s Committee to exploit minerals (in the area with construction investment projects). Accordingly, Giang Nam Petrol is allowed to exploit more than 4.6 hectares of land using natural filling method with a storage capacity of over 212,000 m3. The exploitation capacity is 22,000 m3 per month, with a 10-month exploitation period.
Expanding its projects, Giang Nam Petrol is actively seeking investment approval for new projects. For example, in February 2023, the company sent a document to the Ha Tinh Province People’s Committee to propose the survey and investment approval of a petroleum storage warehouse project in Loc Ha District.
Mr. Nguyen Ngoc Trong, CEO of Giang Nam Petrol.
