The central province of Quang Binh currently houses 320 registered projects worth more than 5 billion USD, including 158 projects worth nearly 4 billion USD that are already under construction.
According to the provincial People's Committee, a number of these projects could add momentum for the local economy, including the 3,600 MW Quang Trach 1 thermal power plant, which has received an investment of over 1.6 billion USD by the Vietnam Oil and Gas Group, and the Lao Government-invested construction of a 200 million USD oil pipeline system to the country.
Many foreign investors, including those from Taiwan (China), the Republic of Korea and Russia have also come to Quang Binh to explore investment opportunities recently, it said.
Russia's Inter RAO Group has signed a memorandum of understanding with local authorities on building 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 1,200-1,320 MW.
In addition to offering attractive investor incentives, the People's Committee has also listed 49 projects in need of investments. Four operate in infrastructure; seven in industrial production; six in health care, culture and education; and 32 in trade and tourism.
Source: The Hanoitimes
Key words: Central province, advantage, investment momentum
