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Work on key infrastructure, energy projects worth $12.5 billion starts in northern Vietnam

Work on key infrastructure, energy projects worth $12.5 billion starts in northern Vietnam

Monday, October 25, 2021, 13:07 GMT+7
Work on key infrastructure, energy projects worth $12.5 billion starts in northern Vietnam
Officials attend the groundbreaking ceremony of the Van Ninh General Port project in Quang Ninh Province, Vietnam, October 24, 2021. Photo: Tien Thang / Tuoi Tre

Authorities in Vietnam's Quang Ninh Province launched groundbreaking ceremonies for four key infrastructure and energy projects worth about US$12.5 billion on Sunday.

Those projects included the Ha Long Green Complex Urban Area in Quang Yen Town and Ha Long City, Dong Trieu Golf Course, Quang Ninh LNG Power Plant, and Van Ninh General Port. 

The series of projects, worth a total of nearly VND283 trillion ($12.5 billion), demonstrates Quang Ninh’s effort in developing the economy amid the impact of the pandemic in Vietnam and around the world. 

Of these four key projects, Ha Long Green Complex Urban Area is the largest, with an estimated investment capital of nearly VND232.4 trillion ($10.2 billion). 

A consortium of Vingroup JSC and Vinhomes JSC will build the project on an area of more than 4,100 hectares to make it a mixed-use urban area with luxury resorts and hotels, amusement parks, and golf courses, thus contributing to Quang Ninh’s and the country’s economic, cultural, and tourism development. 

Dong Trieu Golf Course is developed on an area of nearly 130 hectares in Dong Trieu Town at a cost of nearly VND1.3 trillion ($57.3 million) from Silk Path Hotel JSC. 

The investor expects the golf course to serve about 800 guests per day. 

Officials arrive at the groundbreaking ceremony of the Quang Ninh LNG power plant project in Quang Ninh Province, Vietnam, October 24, 2021. Photo: Tien Thang / Tuoi Tre

Officials arrive at the groundbreaking ceremony of the Quang Ninh LNG Power Plant project in Quang Ninh Province, Vietnam, October 24, 2021. Photo: Tien Thang / Tuoi Tre

Of the other two projects that commenced the same day, the 55.9-hectare Quang Ninh LNG Power Plant project in Cam Pha City is projected to cost VND47.48 trillion ($2.1 billion).

This will be the first power plant using imported LNG in the northern area with an expected capacity of 1,500 MW. 

Its investor, a joint venture by PV Power, Colavi JSC, Tokyo Gas and Marubeni, expects that it will add nine billion kWh of electricity to the national grid per year and VND57.7 trillion ($2.5 billion) to the provincial budget in 25 years.

Meanwhile, Van Ninh International Port JSC will invest VND2.2 trillion ($96.9 million) in the project of Van Ninh General Port, which spans 82.79 hectares in Mong Cai City.

The project will contribute to the system of seaport infrastructure and services, acting as a focal point for trade with ASEAN and Northeast Asia countries.

In the first nine months of 2021, Quang Ninh’s gross regional domestic product (GRDP) rose 8.6 percent, up 0.1 percentage points from the same period last year, but 1.1 percentage points lower than the growth scenario set at the beginning of the year, according to the provincial People’s Committee.

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