Decision No. 14/2005/QĐ-BCN on transferring Bà Rịa Thermal Power Plant to an independent accounting subsidiary under Vietnam Electricity Corporation.

Pursuant to …;

Regarding the conversion of Bà Rịa Thermal Power Plant to a subsidiary company with independent accounting under Vietnam Electricity Corporation

THE MINISTER OF INDUSTRY

Pursuant to Decree No. 55/2003/NĐ-CP dated May 28, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry;

Pursuant to Decree No. 180/2004/NĐ-CP dated October 28, 2004 of the Government on the establishment, restructuring, and dissolution of state-owned enterprises;

Pursuant to Decision No. 12/2005/QĐ-TTg dated January 13, 2005 of the Prime Minister approving the supplementary restructuring and modernization plan for state-owned enterprises under Vietnam Electricity Corporation until 2005;

Considering the proposal of the Board of Directors of Vietnam Electricity Corporation at Proposal No. 112/TTr-EVN-HĐQT dated March 24, 2005 regarding the transformation of Bà Rịa Thermal Power Plant into an independent accounting subsidiary company;

At the suggestion of the Director of the Department of Organization and Cadres,

DECISION:

Article 1. Convert Bà Rịa Thermal Power Plant, a dependent accounting unit, into Bà Rịa Thermal Power Company, an independent accounting subsidiary of Vietnam Electricity Corporation.

1. Business name: Bà Rịa Thermal Power Company; International trade name: BA RIA THERMAL POWER COMPANY; Abbreviation: BRTPC;

2. The company's headquarters is located in Long Hương Ward, Bà Rịa City, Bà Rịa-Vũng Tàu Province;

3. Bà Rịa Thermal Power Company shall have legal personality, implement independent economic accounting, be entitled to use seals, open bank accounts, and establish credit relationships with domestic and foreign banks in accordance with the law.

Article 2

1. Business activities of the company:

- Production and trading of electric power;

- Management, operation, maintenance, repair, and renovation of electrical equipment, thermal power plants, and architectural works of power plants;

- Training and development of human resources for management, operation, maintenance, and repair of power plant equipment;

- Purchase and sale, import and export of materials and equipment; 

- Project investment construction planning, project investment construction management, and construction supervision consultancy;

- Engaging in other businesses in accordance with the provisions of the law.

2. The Charter Capital of the Company as of December 31, 2004 is: 317,527,000,000 VND (Three hundred seventeen billion five hundred twenty-seven million dong).

Article 3. The organizational structure of the company includes:

1. General Director,

2. Deputy General Directors,

3. Chief Accountant,

4. Technical and operational departments,

5. Operation and repair workshops.

Article 4. Bà Rịa Thermal Power Company is responsible for completing all business registration procedures and operating in accordance with the Company's Charter approved by the Board of Directors of Vietnam Electricity Corporation, in compliance with the Law on State-Owned Enterprises and other relevant laws.

Article 5. This Decision takes effect fifteen days from the date of publication in the Official Gazette.

The Head of the Ministry’s Office, the Inspector General, Heads of Departments and Bureaus under the Ministry, the Chairman of the Board of Directors and the General Director of Vietnam Electricity Corporation, and the Director of Bà Rịa Thermal Power Company are responsible for implementing this Decision./.