German gas producer to invest $133 mln in Vietnam’s Quang Ngai province
German industrial gas producer Messer received an investment certificate for a $133.28 million project in Vietnam’s central province of Quang Ngai on Sunday.
The certificate was given at a ceremony to outline Quang Ngai’s planning for 2021-2030, with a vision to 2030. The event was attended by President Vo Van Thuong, Deputy Prime Minister Tran Hong Ha, and other leaders.
The 7.24-hectare factory, located in Dung Quat Economic Zone, is set to enter operation 15 months after land is handed over by the authorities. The project’s output includes 240,000 normal cubic meters of oxygen and nitrogen gas an hour, 400 tons of liquid argon, oxygen, and nitrogen a day, and 12.09 normal cubic meters of krypton, xenon, and a mix of helium and neon per day.
Messer entered Vietnam in 1997 and now runs three subsidiaries in Hai Phong city in the north and Binh Duong and Binh Phuoc provinces in the south. It has invested over $250 million in Vietnam and currently operates nine facilities with over 400 staff.
Quang Ngai Chairman Dang Van Minh (left) and Quang Ngai Party Committee chief Bui Thi Quynh Van (right) grant an investment certificate to Messer in the central province, December 24, 2023. Photo courtesy of Quang Ngai news portal.
Besides, Quang Ngai authorities granted investment certificates to two other projects. Thang Long Investment Trading and Real Estate Construct JSC, based in the northern province of Vinh Phuc, will conduct the Bau Giang urban area project. The VND3,318-billion ($136.8 million) project will cover 49.6 hectares in Quang Ngai town and Tu Nghia district in the central province.
Ho Chi Minh City-based NHSLAND BDS Investment Business Company Limited will develop the Coastal Quang Ngai eco-urban area with an investment of VND7,106 billion ($292.9 million). Delta Group, a major construction firm in the country, is the construction partner for the 94-hectare project.
On the same day, Quang Ngai authorities kicked off the construction of Hoang Sa-Doc Soi road. This is the biggest-ever road traffic investment by Quang Ngai province with VND3,500 billion ($144.3 million). The 26.8-kilometer project will connect Quang Ngai town, Dung Quat Economic Zone, and Chu Lai airport, helping reduce traffic on National Highway 1.
- Related News
- Read More
Indonesia to develop 3 million more hectares of rice fields
The Indonesian government is working to implement a program to develop 3 million hectares of new rice fields to strengthen the country's food resilience amid global challenges and increasing population demands, national news agency Antara reported.
Southeast Asia - Wed, October 30, 2024 | 9:24 pm GMT+7
Singapore’s digital economy thriving
Singapore’s digital economy accounted for 17.7% of the island state's GDP in 2023, up from 17.3% in the previous year, according to its Infocomm Media Development Authority (IMDA).
Southeast Asia - Wed, October 30, 2024 | 9:21 pm GMT+7
Viettel, UAE’s Presight to boost Applied AI, digital transformation in Vietnam
Vietnam’s Viettel AI and the UAE’s Presight have agreed to jointly advance the development of Applied AI and digital transformation initiatives in Vietnam.
Companies - Wed, October 30, 2024 | 8:30 pm GMT+7
Vietnam utility EVN to build $277 mln transmission line to import power from China
State utility Vietnam Electricity (EVN) has got the go head to build the VND7,010 billion ($277.2 million), 500 kV Lao Cai-Vinh Yen line for transmission in the northwestern region and to import power from China.
Energy - Wed, October 30, 2024 | 8:09 pm GMT+7
Jack Ma-invested fund unloads Vietnam holdings worth $130 mln in Q3
China’s Tianhong Vietnam Market Stock Initiated Securities Investment Fund (QDII) saw outflows of around RMB930 million ($130.4 million) in the July-September quarter.
Finance - Wed, October 30, 2024 | 4:53 pm GMT+7
Private lender HDBank reports strong profit growth in 9 months
Ho Chi Minh City-based private creditor HDBank's pre-tax profit surged 47% year-on-year to VND12.65 trillion ($499.6 million) in the first nine months of this year.
Banking - Wed, October 30, 2024 | 4:42 pm GMT+7
Real estate M&As gather pace as local firms struggle with capital insufficiency, restructuring: experts
2024 is considered a vibrant year for mergers and acquisitions (M&A) in Vietnam’s real estate sector, as domestic property companies still face challenges related to capital and restructuring, according to experts.
Real Estate - Wed, October 30, 2024 | 4:14 pm GMT+7
Vietnam conglomerate Vingroup, UAE partner seek to build $3.5 bln data center
Vietnam’s leading conglomerate Vingroup and the Middle East-focused Benya Technologies will jointly explore opportunities to invest in a $3.5 billion data center in Vietnam.
Industries - Wed, October 30, 2024 | 3:43 pm GMT+7
Commonwealth Bank of Australia further sells 10% stake in Vietnam bank VIB
The Commonwealth Bank of Australia (CBA) has sold a further 10% stake in Vietnam International Commercial Joint Stock Bank (VIB).
Banking - Wed, October 30, 2024 | 1:17 pm GMT+7
Saudi Aramco seeks to invest in Vietnam, partner with Petrovietnam
State-owned Saudi Arabian Oil Group (Aramco), the world’s largest oil producer, is eyeing to invest in petrochemical-oil refining and petroleum distribution in Vietnam, said president and CEO Amin Hassan Nasser.
Energy - Wed, October 30, 2024 | 11:01 am GMT+7
Emirates seeks to expand presence in Vietnam
Emirates, the flagship carrier of the UAE, has signed two separate memorandums of understanding (MoUs) with Vietnam Airlines and Vietjet as part of the airline's efforts to expand its footprint in Vietnam.
Companies - Wed, October 30, 2024 | 10:02 am GMT+7
Brightening outlook for Vietnam steelmakers with real estate recovery, infrastructure development: analysts
While Q3 results among Vietnam’s steelmakers are a mixed bag of gradual recovery and continued losses, there are several factors pointing to a brighter outlook for the industry, analysts say.
Industries - Wed, October 30, 2024 | 8:00 am GMT+7
Former National Assembly General Secretary faces disciplinary action
The Party Central Committee’s Inspection Commission has proposed competent authorities take disciplinary action against Bui Van Cuong, who stepped down last week as the National Assembly’s General Secretary.
Politics - Tue, October 29, 2024 | 11:10 pm GMT+7
Indonesia aims to become Southeast Asia's EV production hub
Indonesia is actively seeking to boost investment in a bid to establish itself as a center for electric vehicle (EV) and battery production in Southeast Asia.
Southeast Asia - Tue, October 29, 2024 | 10:38 pm GMT+7
Singapore trials autonomous vehicles on public roads for cargo transportation
Singapore’s FairPrice Group (FPG) recently announced that it has become the first organization in the country to receive approval from the Land Transport Authority (LTA) for the final stages of trials to use autonomous vehicles (AVs) on public roads for cargo transportation.
Southeast Asia - Tue, October 29, 2024 | 10:37 pm GMT+7
Malaysia promotes green energy transition
The Malaysian Government has increased the National Energy Transition Facility Fund allocation to over RM300 million ($60.80 million) in the 2025 budget from only RM100 million this year.
Southeast Asia - Tue, October 29, 2024 | 10:35 pm GMT+7
