(Yicai Global) Jan. 2 -- China's Yongfu Power Engineering will construct a solar power station in Binh Thuan province in southeast Vietnam to spread its influence over Southeast Asia.

Yongfu signed a USD47 million contract with Truong Thanh-Binh Thuan Solar Power, the owner of the Binh Nguyen Solar Power Project, that has a planned capacity of 49 megawatts, the Fujian-province based firm said in a statement yesterday. 

Yongfu will design, procure equipment, build and commission the project as well as provide warranty after completion, the statement added. The construction will start on Jan. 15, be completed at the end of May and start generating power on June 30.

This is Yongfu's first project in Vietnam, which will enhance its competitiveness overseas while improving its business performance, the firm added.

Editor: Emmi Laine