Dung Quat Zone Attracts $5b

Thursday, February 01, 2007
The Dung Quat Economic Zone in the central province of Quang Ngai has to date attracted 103 projects with a combined capital of over $5b, according to the Investment and Trade Promotion Centre of the zone’s management board. In 2006 alone, twenty projects were licensed in the zone, capitalized at over $1.1b, $832,of which came from foreign-invested projects. Among major new projects were a $1b steel mill by Taiwan’s Tycoons Group, a $260m heavy industrial complex by the Doosan Group of South Korea, and PetroVietnam’s $2.5b Dung Quat oil refinery. The zone, however, is still facing several challenges, said the centre. Technip, lead contractor of the refinery project, said that infrastructure in the industrial zone and in Quang Ngai Province was still inadequate to meet the requirements of the oil refinery project.

The two other large-scale new projects, the Tycoons’ steel mill and Doosan’s heavy industrial complex, together with a shipbuilding complex, have also fully occupied the land area of the eastern part of the zone which enjoys deep-water seaport access. A lack of both qualified managers and of workers, both manual and skilled, also has slowed the zone’s development. Le Van Dung, director of the Trade Promotion Centre, said that the key tasks for the zone this year were developing infrastructure and the Binh Long – Dung Quat port, particulary infrastructure for the top priority projects in the zone’s eastern areas. The zone was also striving to attract thermopower projects and steel and shipbuilding support industry projects. It has targeted attracting an $6 billion in investment, as well as annual export turnover of $120m, by 2010. Source: VNS

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DSME Reveals Additional Self-Restructuring Plan

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has  revealed an additional self-restructuring plan amid the falling shipbuilding orders.

KOTUG Begins Operations in Mozambique

KOTUG Mozambique has begun exclusive port and terminal towage services with two Rotortugs in the new port of Nacala-a-Velha in northern Mozambique for Nacala Development Corridor (CDN),

French Oil and Port Workers Vote to Begin New Strikes

Oil sector workers of French CGT and FO unions voted on Monday to begin a strike at Exxon Mobil's 240,000 barrels-per-day Port Jerome refinery in northern France, the unions said in a joint statement.

Shipbuilding

China Shipbuilding Plans Major Restructuring

State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring

DSME, Sovcomflot Delay Delivery of First Arctic LNG carrier

South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) and Sovcomflot have agreed to delay a liquefied natural gas carrier being built for the Yamal LNG project in Russia.

DSME Reveals Additional Self-Restructuring Plan

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has  revealed an additional self-restructuring plan amid the falling shipbuilding orders.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0952 sec (11 req/sec)