Tra Vinh approves 576 billion VND petroleum storage terminal project

A corner of Tra Vinh city in Tra Vinh province. The province has given the nod to a 576 billion VND petroleum storage terminal project. (Photo: VNA)

Tra Vinh (VNA) – The southern province of Tra Vinh has approved an investment worth 576 billion VND (23.26 million USD) to develop a petroleum storage terminal project by the Tra Vinh Petrochemical and Energy Joint Stock Company.

The project is developed on an area of more than 46ha in Kim Son commune, Tra Cu district. It will build a petroleum storage with a capacity 50,000cu.m and a terminal which is capable of receiving 20,000 tonne vessels.

The project is expected to be put into commercial operation by November 2026.

Tra Vinh has granted licences to four projects since the beginning of this year, included three domestic investment projects with a total capital of 967 billion VND and a foreign investment project worth 2 million USD.

There are 384 valid projects in the province, including 39 FDI projects worth 3 billion USD and 345 domestic investment projects worth 143.3 trillion VND.

Vice Chairman of the provincial People’s Committee Nguyen Quynh Thien said that the province is calling investments in 35 projects this year, adding that Tra Vinh will strive to further improve the investment climate, administrative reform and dialogues with investors./.

VNA