Korean Firm Reaches Deal for US$240Mln Project in Central EZ

The management board of Dung Quat Economic Zone (EZ) in central Quang Ngai province and Korean-base Doosan Group on September 12 inked an agreement to build an industrial complex project worth US$240 million.

 

The wholly foreign-invested project, to be located in an area of 114.2ha, will be divided into two sub-projects namely Doosan-Vina and Doosan Mecatec Vietnam complexes.

 

The former worth US$200 million is to be implemented under two phases. Of which, the first will cost $170 million to build ports and the second is slated to kick off by late 2012.

 

Meanwhile, the construction of the latter with an investment of $40 million will start within this year.

 

Doosan Group, a Korean family-controlled conglomerate, which specializes in construction, machinery, and food and beverage production, aims to exploit the potential Vietnamese market and other Southeast Asian nations. It has many clients in the Middle East and Southeast Asia.

 

The group said it has been conducting feasibility research on expanding its operations in Vietnam in the coming time.