Quantum Group and Vietnam’s BB Group are seeking to invest $5.5 billion in a port and gas industry complex in the central province of Quang Tri.
Under an agreement signed between the Quang Tri People's Committee and BB Group on Monday, local authorities allowed both to research two projects in the Southeast Quang Tri Economic Zone, Hai Lang district.
Capitalized at $5 billion, the 140 hectare Hai Lang - Quang Tri gas industry center would be built from 2022 to 2030. $3.5 billion will be disbursed in phase 1 from 2022 to 2027, while the remainder is spent on phase 2 from 2026 to 2030. The center includes a natural-gas processing plant, a liquified natural gass (LNG) plant, along with onshore and floating gas storage facilities.
The 275 hectare Quang Tri general port project, with a total investment of $500 million, will be invested from 2022 to 2025. It can receive all types of vessels, including general cargo ships, container ships, bulk carriers of up to 100,000 tons, and gas tankers to transport liquefied gas or natural gas of up to 180,000 tons.
BB Group’s main business lines include energy, gas industry, mining, construction, real estate, and consumer goods.
To quickly expand in the energy sector, BB Group, via its subsidiary BB Power Holdings, has successfully acquired a series of energy businesses such as Song Lo 2 Hydropower Co., Gia Lai Investment and Development Wind Power JSC, Millennium Energy JSC, and Gio Thanh Energy JSC.
The company currently owns 10 renewable-energy power plants across the country, of which the Gio Thanh 1 and 2 solar power plants are in Quang Tri province.
Quantum Group is a global corporation involved in energy, water, mining, telecom, infrastructure, and real estate.