Vung Ang Economic Zone welcomes North Central LNG Warehouse Project with investment capital of more than 26,700 billion VND

The Provincial People's Committee has just issued Decision No. 41/QD-UBND on approving the investment policy of the North Central LNG Warehouse Project (also known as Vung Ang LNG Warehouse), and at the same time approving the project investor as PetroVietnam Gas Corporation - Joint Stock Company (PV Gas).

The total investment capital of the project is about 26,735.5 billion VND (owner's capital is 8,020.7 billion VND, borrowed capital and other mobilized capital is 18,714.8 billion VND), implemented in Vung Ang Economic Zone, Hoanh Son ward. The expected land and water surface area to be used includes about 53 hectares of land and 426 hectares of water surface.

The North Central LNG Warehouse Project has a total project investment capital of about VND 26,735.5 billion.

The project's objective is to supply LNG (liquefied natural gas) to thermal power plants according to the adjusted Power Plan VIII (Vung Ang III, Quang Trach II, Quang Trach III LNG Thermal Power Plants) and other industrial consumers in the neighboring area.

The scale of the project in phase 1 (2029 - 2030) is 1 - 3 million tons of LNG/year, phase 2 (after 2030) will study the expansion to increase capacity according to the approved planning and market demand. The project's duration is 35 years, from the date of the decision on land allocation and land lease. The project's progress is to be completed and put into operation in the fourth quarter of 2029.

The Provincial People's Committee assigned the Department of Finance to guide and urge investors to deposit funds to ensure project implementation in accordance with the provisions of the Investment Law; to perform the function of state management of the project according to their authority and legal provisions. Relevant departments, branches and sectors, according to their functions and tasks, guide investors to complete project implementation documents and procedures in accordance with regulations; monitor and supervise the project implementation of investors, promptly handle project documents and procedures in accordance with regulations and authority; advise the Provincial People's Committee to promptly remove difficulties and obstacles for investors in the process of project implementation.

The People's Committee of Hoanh Son Ward shall supplement and update the project into the local land use plan according to regulations; guide investors in carrying out records and procedures on land, environment, construction and other records and procedures in accordance with the provisions of law.

The investor is responsible before the law for the legality, accuracy and honesty of the investment policy approval application and documents sent to competent State agencies; implement the investment project in accordance with the committed objectives, content and progress; comply with the legal provisions on land, environment, construction, planning, labor, business registration, investment registration and relevant laws during the implementation of the investment project.

Source: https://baohatinh.vn/kkt-vung-ang-don-du-an-kho-lng-bac-trung-bo-von-dau-tu-hon-26700-ty-dong-post295866.html