The Management Board of Van Phong economic zone in the central province of Khanh Hoa has recently allocated land to foreign investors to carry out power and petrochemical production projects worth nearly US$14 billion.

Japanese Sumitomo will build a 2,400 MW thermal power center at a total cost of US$3.8 billion in the zone.

Meanwhile, a joint venture of the state-owned Vietnam National Petroleum Corp. (Petrolimex), Chinese Sinopec and Saudi Aramco of Saudi Arabia will build a petrochemical plant costing US$4.8 billion in the first phase in the zone. The plant’s total investment will be raised to US$10 billion in the second phase.

Information about the total land area of the projects and the time for the start has not yet been made available.

These are the two FDI projects with the largest capital in the Van Phong economic zone so far. (Investment)