Vietnamese Prime Minister Nguyen Tan Dung has recently approved a project to build Long Son petroleum industrial park in southern Ba Ria-Vung Tau province, the Vietnam Law newspaper reported September 10.
The Premier agreed to add the 1,250-hectare facility to the list of industrial parks scheduled for setup by 2015 and span to 2020, the sources said.
The Vietnam Urban and Industrial Zones Development Investment Corporation (IDICO), the project’s investor, will build the industrial park in local Long Son commune, Vung Tau city with a total investment of VND3,309 billion (US$200 million).
The project aims to build infrastructure including roads, drainage systems, power supply, communication facilities, industrial waste treatment systems and other services to attract investment in oil refining, petrochemical, thermal power, chemical, building material, steel refining, and mechanical engineering.
The hoped industrial park will be kicked off in 2016 with completion in 2025.
According to estimation by the Ministry of Planning and Investment, the Long Son petroleum industrial park will attract investment worth around US$11.62 billion once it is fully operational.
Factories and companies in the park are expected to make average annual revenue of US$8 billion, contribute US$80 million to the State budget yearly, and generate 100,000 jobs, the ministry said. (Vietnam Law,
www.baobariavungtau.com)
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