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 Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Ingram to Build 20 Tank Barges in 2015

Ingram Barge Company announced that it will build 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank

Webinar: 3D Laser Scanning in the Marine Industry

Maritime industry professionals have increasingly taken notice of 3D laser scanning in recent years as acceptance for the technology and its applications mounts throughout the sector.

Shuster Receives Champion of Maritime Award

Congressman honored for support of domestic maritime industry.   Rep. Bill Shuster (R-Pa.) this week received the 2014 Champion of Maritime Award from the American Maritime Partnership (AMP),

Shipbuilding

Damen Delivers ASD Tug in Italy

RimorchiatoriRiunitiS.p.A. of Genoa (Italy) has taken delivery of a Damen ASD Tug 2411. The 70-metric-ton bollard pull azimuth stern drive tug will be temporarily deployed by Tug Malta Ltd.

NRC Program Targets Vessel Operating Costs, Safety

Canada’s NRC creating solutions for the growing Canadian shipbuilding, military vessels, marine commercial transportation and offshore resource industries As

LQT Delivers Accommodation Facility and Helideck in Gulf of Mexico

LQT Industries , a full-service provider of accommodation facilities, design-build construction services, and support services to the oil and gas industry, has

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1336 sec (7 req/sec)