BILLION-DOLLAR PROJECTS REMOVED FROM LINEUP OF NATIONAL INVESTMENT PROJECTS

One energy project and three automotive projects will be removed from the list of projects calling for foreign investment in 2021-2025.

The decision was made by the Ministry of Planning and Investment (MPI) following the proposal of the Ministry of Industry and Trade (MoIT) about the list of national projects calling foreign-invested capital in the period of 2021-2025.

The energy project is the liquefied natural gas (LNG)-to-power plant and an LNG warehouse project in Nghi Son Economic Zone in Thanh Hoa province with a capacity of 5,000MW. The reason for removal is that the project is being considered for addition to the National Power Development Plan VIII.

The three automotive projects include a $1-3 billion automotive production and assembly factory in Lam Son-Sao Vang Industrial Zone, Thanh Hoa. The project has a total capacity of 100,000 units.

The second one is another automotive production and assembly factory in Becamex Binh Dinh service and urban industrial zone. It has a designed capacity of 30,000-50,000 units a year and has a total investment capital of $250 million.

The third one is a 100-hectare factory in Hoang Mai I industrial zone in Nghe An province with an investment cost of $215 million.

Along with the four above projects, the MoIT proposed to remove the gas pipeline system from Bao Vang field to Quang Tri. According to the MoIT, to date, the contractor has yet to build the outline development plan (ODP) and the final development plan (FDP), thus there is no information about the construction scheme of the project.

According to the MPI, the list currently combines 157 projects with a total investment capital of $71.46 billion.

Source: VIR