Work is underway on the Phương Mai wind power plant in Nhơn Hội EZ. Photo baocongthuong.vn

HÀ NỘI The HCM City-based Fico JSC has been given initial approval from the Bình Định Economic Zone (EZ) Authority to develop two wind power plants in the Nhơn Hội EZ.

Spanning 175ha, the Nhơn Hội 1 wind power plant would have a capacity of 30MW annually, and would cost more than VNĐ1.32 trillion (US$56.7 million) to build, according to the provincial portal.

The 30MW Nhơn Hội 2 wind power plant, with an estimated cost of nearly VNĐ1.25 trillion ($54 million), would cover 200ha.

The two plants are slated for completion in September 2021.

The investor would have its approval revoked if it failed to implement the projects within a year, according to the province.

Last year, the central province of Bình Định granted investment licences to 83 domestically-financed projects with total registered capital of more than VNĐ48 trillion. Of the total, 10 projects worth VNĐ30 trillion were in the Nhơn Hội EZ.

During the year, the province also licensed six foreign-invested projects valued at $80 million, bringing the number of foreign-invested projects in the locality to 80, capitalised at $710 million.

In order to lure more investment, Bình Định would focus on enhancing domestic and foreign promotions with a focus on large domestic enterprises and foreign corporations, according to the provincial Investment Promotion Centre.

It will also speed up the completion of key infrastructure projects, improve the business environment and help investors complete administrative procedures.

“It is important for us to accelerate eligible projects to start construction, and terminate projects that are behind schedule,” the centre said. — VNS