GE Signs $5.58 Billion Worth of Deals in Vietnam
General Electric (GE) - Get Reportsaid today that it has signed deals in Vietnam worth about $5.58 billion for power generation, aircraft engines, and services, Reuters reports.
The agreement represents the largest single combined sale with Vietnam in GE's history.
GE's agreement with Vietjet Aviation, a Vietnamese low-cost airline, includes 20 jet engines made by CFM International, a joint venture of GE and France's Safran (SAFRF) .
It also includes a 12-year engine service contract for 215 LEAP-1B engines on 100 Boeing (BA) - Get Report 737 MAX aircraft that Vietjet has ordered, GE said.
GE's power business signed a memorandum of understanding to construct two 750-megawatt gas-fueled turbine power plants in conjunction with state energy group PetroVietnam.
The firm also signed a joint development deal to build an 800-megawatt wind energy facility.
Shares of General Electric were higher during afternoon trading on Wednesday.
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