Quang Binh lures new investments

Update: April, 14/2015 - 08:59
A plywood production line at a factory run by the Truong Thanh Furniture Corporation in Quang Binh. Many foreign investors from Taiwan, South Korea and Russia have recently visited the province to explore investment opportunities. — VNA/VNS Photo Danh Lam
QUANG BINH  (VNS) — The central province of Quang Binh is currently hosting 320 registered projects, worth more than US$5 billion, including 158 projects, worth nearly $4 billion that are already under construction.

According to the provincial People's Committee, some of these projects could add momentum for the local economy, including the 3,600 megawatt (MW) Quang Trach 1 thermal power plant, which has received an investment of over $1.6 billion from the Viet Nam Oil and Gas Group, and the Lao Government-invested construction of a $200 million oil pipeline system to the country.

Many foreign investors, including those from Taiwan (China), the Republic of Korea and Russia had also visited Quang Binh to explore investment opportunities recently, it said.

Russia's Inter RAO Group has signed a memorandum of understanding with local authorities to build the Quang Trach 2 thermal power plant under the BOT (built-operate-transfer) model.

The plant is expected to be located at the Quang Binh Power Centre in Quang Dong commune, Quang Trach District. It will have two turbines with a total power capacity of 1,200 to 1,320 MW.

In addition to offering attractive investor incentives, the People's Committee has also listed 49 projects in need of investment. Four will operate in the infrastructure sector; seven in industrial production; six in health care, culture and education; and 32 in trade and tourism. — VNS