Quang Tri welcomes 2 projects with a scale of 5.5 billion USD

On April 25th, the People’s Committee of Quang Tri province, BB Group Joint Stock Company (BBG Group, Vietnam) and Quantum Corporation of the United States signed a cooperation agreement to invest in 2 projects of gas industry center and general port in the Southeast Quang Tri economic zone.

Quang Tri Provincial People’s Committee, BB Group Joint Stock Company (BBG Group, Vietnam) and Quantum Corporation of the United States signed a cooperation agreement – Photo: VGP/Minh Trang

Accordingly, Quang Tri province agreed to let BBG Group and Quantum Corporation conduct survey, research and invest in 2 projects in Southeast Quang Tri economic zone in Hai Lang district.

That is the Hai Lang – Quang Tri Gas Industry Center project with a scale of about 140 hectares, the total investment is expected to be 5 billion USD. The project has the following items: gas processing plant and liquefied natural gas production plant, onshore gas storage, floating gas storage. The project will be implemented from 2022-2030; in which phase 1 will be deployed from 2022-2027 with a capital of 3.5 billion USD; Phase 2 from 2026-2030 with a capital of about 1.5 billion USD.

The second is the Quang Tri General Port project with a scale of about 275 hectares, the total investment is expected to be 500 million USD. The project can receive all kinds of general ships, containers, and bulk cargoes with a tonnage of 100,000 tons; ships carrying liquid goods such as gas and gas with a tonnage of 180,000 tons; project investment period from 2022-2025.

With this agreement, Quang Tri Provincial People’s Committee is responsible for introducing investment locations of projects, providing information on existing planning data related to the current status, infrastructure, industry and infrastructure investment plan in the upcoming time; support coordination with BBG Group and Quantum Corporation in working with ministries and sectors related to investment project contents; create favorable conditions and support for investors to survey, research and propose investment projects and related legal procedures for project implementation; apply investment incentive mechanisms and policies to projects in accordance with regulations of the Government and the province.

On the part of BBG Group and Quantum Corporation, it is responsible for mobilizing sufficient capital to implement projects right after the project is decided on investment policy, approved for investment project, issue investment registration certificates according to the committed schedule; arrange funding for site clearance, commit to invest in construction items, fully and properly comply with the provisions of Vietnamese law in the process of investment and operation, exploitation, use and operation of the project; give priority to vocational training and local employment.

Secretary of the Provincial Party Committee – Le Quang Tung, affirmed that Quang Tri province will always accompany and best support the implementation of projects, and at the same time expect BB Group and Quantum Corporation to actively mobilize sufficient capital to implement projects right after being granted investment policy decision, investment project approval… according to the committed schedule; commit to invest in the construction works in the project to ensure high quality standards, of national and international stature; fully comply with the provisions of Vietnamese law in the process of investment, operation and exploitation of the project.

The Secretary of the Provincial Party Committee also wishes that BB Group and Quantum Corporation will play the role of focal point, leading and connecting domestic and foreign investors to research, support investment and invest in projects in the industrial sector, energy development, urban, infrastructure construction in Quang Tri province.

By Bo Cong Thuong Viet Nam