Foreign Consortium Gets Okay for $315 Million Port, IP Project in Quang Ninh

A consortium of three foreign companies has won approval for a seaport and industrial park in Quang Ninh province.


           A zoning plan for Dam Nha Mac in Quang Yen, Quang Ninh. Photo: quangninh.gov.vn

A consortium of three foreign investors on November 18 won a license to invest $315 million in a seaport and industrial park project in the northern province of Quang Ninh, according to the province’s e-portal.

The investors include the Cayman Islands’ CDC International, Singapore’s Middle East Utilities and Asia Hong Kong Infrastructure Investment.

The complex will cover a land and sea area of 1,193 hectares in Quang Yen town, of which 856.5ha will be subleased to secondary investors. The project will be carried out in three phases, with the first one to be completed in 2021 and the third in 2031.

Once operational, the complex is expected to attract more investors into the province and create jobs for 110,000 laborers.

Quang Ninh granted licenses to nine foreign-invested projects worth $519 million in the first ten months of this year, ranking 11th among Vietnamese localities that attracted the most overseas capital in the period, according to government data.

Tuan Minh / BizLIVE