BB Group and Quantum to invest $5.5 billion in Quang Tri

April 27, 2022 | 09:19

(0) user say

BB Group, Quantum Group, and Quang Tri People’s Committee signed a cooperation agreement on April 25 to develop a natural gas and port complex in the Southeast Quang Tri Economic Zone.

BB Group and Quantum to invest $5.5 billion in Quang Tri

The signing ceremony on April 25

According to the agreement, BB Group and Quantum will implement surveys to develop the Hai Lang-Quang Tri gas plant, covering an area of 140 hectares and requiring a total investment capital of over $5 billion. The centre will combine a gas treatment facility, a liquefied natural gas power plant, and other facilities. The construction is planned for completion in 2030.

The port will cover an area of 275ha and cost around $500 million. Once completed, it is expected to handle ships up to a capacity of 100,000 tonnes.

Vo Van Hung, Chairman of Quang Tri People Committee said, “The province will cooperate with investors, ministries, and agencies to create favourable conditions for the development of the projects.”

Quantum has long-term investment plans in Vietnam, having already invested in the field of renewable energy production with the $5-billion Long Son power plant and port.

The company has expressed its desire to complete the logistics infrastructure. Notably, in the southern province of Ba Ria-Vung Tau and in the north from Lang Son to Hanoi and Haiphong. The group also has a target to build a railway line connecting Vung Tau with Dong Nai, Binh Duong, and Ho Chi Minh City.

The US group also wants to diversify its investment portfolio, including infrastructure projects to construct highways, bridges, telecommunications, and industrial real estate.

By Ha Vy

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional