KUALA LUMPUR (Feb 5): Toyo Ink Group Bhd said Vietnam's Ministry of Natural Resources and Environment has approved its environmental impact assessment (EIA) report for the Song Hau 2 thermal power plant project in Chau Thanh District, Hau Giang Province, Vietnam.

In a filing with Bursa Malaysia, Toyo Ink said the EIA report for the project is a basis for consideration and decision-making from authorised organisations, so as to proceed with the next step with regards to the project.

As the project owner, Toyo Ink is responsible for establishing an environmental management plan for the project for public posting, besides meeting environmental protection requirements, as well as reporting performance results for the environmental protection facilities, before project operations commence.

Toyo Ink will also have to notify the ministry of any changes to the EIA report, during the project's execution stage.

“Toyo Ink will make the necessary announcement on the progress of the power plant project to Bursa Securities, when there are material developments in relation to the project,” the filing added.

In November last year, Toyo Ink had entered into a memorandum of agreement with the Department of Natural Resources and Environment of Hau Giang Province for the development of Song Hau 2 — a 2x1000 MW coal-fired thermal power plant in Hau Giang Province — on a fast track basis.

Toyo shares were untraded today. The counter was last traded at 63 sen, giving it a market capitalisation of RM67.41 million.