Quang Tri allures billion-dollar projects

Quang Tri emerges as a lucrative venue for renewable energy development

In late March, Vo Van Hung, Chairman of Quang Tri People's Committee, had a meeting with Alessandro Gelmetti, CEO of ENI Vietnam Energy, to discuss opportunities for cooperation in gas energy projects in Quang Tri Southeast Economic Zone.

At the meeting, the ENI Vietnam CEO expressed his appreciation for the practical and effective cooperation between Quang Tri and the company in recent years and proposed a working visit to Quang Tri in April to sign an agreement for an afforestation project.

According to Quang Tri's chairman, ENI Vietnam has embarked on surveying and exploring two wells on Vietnam’s continental shelf and discovered very potential preliminary reserves.

In 2021, ENI Vietnam and its partners engaged in making an overall evaluation of the Ken Bau field’s reserves as the basis for the plan to supply natural gas and develop energy projects in Vietnam.

At the Meet Quang Tri event on March 26 in Ho Chi Minh City, Chairman Hung emphasised that Quang Tri aims to become a large energy centre in the central region and the country, leveraging potential renewable energy projects and gas potential from Bao Vang and Ken Bau oil fields.

Ha Sy Dong, Deputy Chairman of Quang Tri People's Committee, noted that he discussed an agreement with Intracom JSC on location survey and document preparation seeking to supplement Intracom's wind power project to the latest draft of the Power Development Plan VIII (PDP 8).

The Intracom offshore wind power project has a capacity of 1,000MW, with a research area of 22,000 hectares and another 350ha for turbine arrangement. The turbines will have a combined capacity of 6.25MW, with the total investment reaching $3.13 billion.

The investor also proposed two options for connecting Intracom's wind power plants to the national power grid.

“In the immediate future, Quang Tri People's Committee assigns the Department of Industry and Trade to support the investor to complete relevant procedures and documents to add the project to the PDP 8,” said Dong.

Victor Lim, director of QTIP – a consortium consisting of VSIP, Amata, and Sumitomo – recommended Quang Tri to expand infrastructure investment and development and raise tax incentives to attract potential investors.

“It is necessary to have strong companionships and support from local authorities to support investors,” Lim recommended.

Also last month, steel giant Hoa Phat Group revealed its intention to invest in seaport infrastructure, deep-water ports, and steel plants in Quang Tri Southeast Economic Zone.