New York, March 25, 2022 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com, PHIL), a diversified holding company currently engaged in PHILUX Global Funds (a group of Luxembourg bank funds), the Asia Diamond Exchange project (“ADE”) in Vietnam, mergers and acquisitions and investing in special situations (www.co2-1-0.io), is pleased to announce that the Company has signed a Strategic Cooperation Agreement with Mekong Delta Group, a Vietnamese company, to cooperate with each other to jointly develop, finance, and execute large-scale projects in a number of key sectors in Vietnam.
According to the agreement, both parties have agreed to cooperate in the following areass: (1) real estate: hospitality projects, residential areas, industrial projects and industrial properties, (2) energy: solar power, wind power, biogas power, and waste-to-energy programs, (3) environment: drinking water, waste water treatment, waste management, (4) agriculture: hi-tech agriculture cultivation for domestic consumption and export, and (5) finance: threshold capital, equity and debt financing. Mekong Delta Group current multi-billion U.S. dollar undertakings in Vietnam include a 300-ha urban area in Bien Hoa City, Dong Nai Province; a 1,100-ha city development project in My Duc District, Hanoi; a 500-ha renewable energy project in Binh Phuoc Province, among others.
At the same time the Company has made good progress with respect to the Asia Diamond Exchange development project, the 2,700-ha industrial and logistics zone near the new Long Thanh International Airport, Dong Nai Province, the 2,000-ha Cai Mep Ha Port project, the 3,000-ha city development project in Long Dien District, the 90-ha resort and residence project in Ho Tram, Ba Ria Vung Tau Province and the 54,000-ha sorghum growing project for Empire Spirits, Inc. in Binh Phuoc province, Vietnam.
During our last trip to Vietnam we also had the opportunity to visit several key leaders of the central and local governments of Vietnam and study large-scale projects in Cu Chi District, Ho Chi Minh City (https://www.sggp.org.vn/cau-lac-bo-ket-noi-doanh-nhan-viet-nam-quoc-te-vienc-ket-noi-quy-dau-tu-phigroup-va-tap-doan-bds-dat-xanh-lam-viec-voi-lanh-dao-huyen-cu-chi-801806.html). Our PHILUX Global Funds and international long-term financing programs are expected to play a major role in a number of key development projects and investment opportunities in Vietnam.
On another note, both KOTA group and Five-Grain Treasure Spirits have agreed to extend the closings of these acquisitions to a later date as we continue to complete the financing for these transactions.
About PHI Group, Inc.
PHI Group (www.phiglobal.com, PHIL) primarily focuses on advancing PHILUX Global Funds, a group of Luxembourg bank funds organized as “Reserved Alternative Investment Fund” (“RAIF”) and building the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in select industries and special situations (www.co2-1-0.io) that may substantially enhance shareholder value.
Safe Harbor Act and Forward-looking Statements
This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.
Contact:
PHI Group, Inc.
Tel: +1-714-793-9227
Email: info@phiglobal.com
