Manufacturing News 27/05/2024, 11:03

India's Kanoria Proposes to Invest in Deep-Water Port, Oil Refinery, and Airport in Phu Yen

Kanoria Group committed to accompanying the province in the process of international integration as well as local economic and community development.

India's Kanoria Proposes to Invest in Deep-Water Port, Oil Refinery, and Airport in Phu Yen

Kanoria Group, an Indian multi-industry conglomerate specializing in seaport infrastructure, has expressed interest in several projects, including the Bai Goc deep-water port in the Nam Phu Yen Economic Zone, the oil refinery project, and the Tuy Hoa international airport project.

Mr. Ta Anh Tuan, Chairman of the People's Committee of Phu Yen Province (right), received the representative of Kanoria Group. (Photo: Phu Khanh)

Mr. Ta Anh Tuan, Chairman of the People's Committee of Phu Yen Province, said that the Prime Minister has approved two major plans for Phu Yen, including: adjusting the general planning on the construction of the Nam Phu Yen Economic Zone to 2040 and the Phu Yen Province Planning for the period 2021–2030, with a vision to 2050.

Phu Yen is recognized for its potential advantages in tourism and industry development. The province has a deep-water port capable of accommodating large-tonnage ships.

It is known that in the period 2024-2030, Phu Yen calls for investment in 70 projects in many fields. 

In the Nam Phu Yen Economic Zone, there are 3 projects in the metallurgical and energy sectors, including: the oil refinery and petrochemicals complex covering 350 hectares, with an investment capital of 5 billion USD (equivalent to 122,525 billion VND); the iron and steel complex spanning 498 hectares, with an investment capital of 86,000 billion VND; and the LNG warehouse project, with an investment capital of approximately 1.8 billion USD (equivalent to 44,109 billion VND).

There are also 3 projects in the fields of transportation, seaports, and logistics. These include the Bai Goc Port investment project, covering 220 hectares and requiring an investment capital of 20,000 billion VND; the logistics center in Dong Hoa associated with inland container deport (ICD) serving Vung Ro Port and Bai Goc Port; and the investment project for upgrading and expanding Tuy Hoa Airport. The investment capital will be determined based on the investor's proposal.

VietNam Finance / Translator: Hoàng Trúc
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