Dung Quat EZ Attracts US$8 Bln Investment
The Dung Quat Economic Zone in central province of Quang Ngai has to date licensed 125 projects valued at over US$8 billion, Vietnam News Agency reported recently.
The largest project is the US$2.5 billion Dung Quat Refinery which is under construction and also Vietnam’s first oil refinery. It is followed by the US$3.3 billion steel plant by Taiwan’s Tycoons group, with construction slated for start late this month.
The Saigon Investment Joint Stock Company and a U.S. partner are seeking the Vietnamese government’s approval to invest US$2.4 billion in a coal-fuelled thermo-electric power plant in the zone.
Forty operational projects in the zone is expected to generate a total industrial production value of VND600 billion (US$37.5 million), service revenues of US$80 billion, and export earnings of US$30 million this year.
Prime Minister Nguyen Tan Dung has approved a general plan on the development of fast-growing Dung Quat EZ up to 2020, aiming to turn it into a central region’s urban-industrial-service center in the near future, state media reported.
Accordingly, the 10,300-ha Dung Quat will be developed into a multi-sector EZ covering the areas of industry, trade, tourism, services, urban areas and agro-forestry-fishery business, with oil refinement and petro-chemistry being its spearhead sectors. (VNA)
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