RoK firm invests 1.2 billion USD in Ba Ria-Vung Tau
The Hyosung Chemical Corporation from the Republic of Korea (RoK) has received approval to build both a polypropylene-producing factory and a liquefied petroleum gas (LPG) underground storage space in Cai Mep Industrial Zone in the southern province of Ba Ria-Vung Tau.
Ba Ria - Vung Tau (VNA)– The Hyosung Chemical Corporation from the Republic of Korea (RoK) hasreceived approval to build both a polypropylene-producing factory and a liquefiedpetroleum gas (LPG) underground storage space in Cai Mep Industrial Zone in thesouthern province of Ba Ria-Vung Tau.
The project will cover an area of61ha, with total investment worth more than 1.2 billion USD.
According to the management boardof the Ba Ria-Vung Tau industrial zones, the project’s duration will be 34years. The underground storage facility will be completed by late 2020 andbecome operational by the beginning of the following year.
It is the largest-scale projectto have received operation approval amongst the province’s industrial zones.
To date, there are 362 investmentprojects operating in the Ba Ria-Vung Tau industrial zones, with total capitalexceeding 18.2 billion USD. The province lured an additional 2.1 billion USD from42 projects in the first eight months of the year. –VNA
President Tran Dai Quang has asked the southern coastal province of Ba Ria-Vung Tau to mobilise and use domestic and foreign resources effectively in order to develop the local economy rapidly and sustainably.
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At the event (Source: VNA) 
