Drilling Mud Corporation (DMC), a PetroVietnam member and the Dinh Vu Industrial Zone (IZ) authorities have inked a land lease contract for a petrochemical service supply project.
With investment of VND270 billion ($13.04 million), the project consists of a propylene resin store, a container depot with an annual capacity of 100,000 20-foot equivalent unit (TEU) and a 5,760 square metre warehouse.
Construction of the project will be kicked-off in early fourth quarter of 2011 and the project will come online in the second quarter of 2012. The Dinh Vu petrochemical service supply base will be one of DMC’s key logistic service supply chains in northern Vietnam.
DMC’s Dinh Vu base is the fifth project of PetroVietnam’s member firms and the 35th project in Dinh Vu IZ.
DMC’s investment decision showcased the IZ’s compelling advantages with internal 20,000 dead weight tonnage general port system, convenient transport links to key areas and lucrative tax incentives for domestic and international investors, said Dinh Vu IZ Joint Stock Company deputy general director Do Thi Kim Thanh.