Land in Phu Yen is targeted by a large corporation, expected to invest 5 billion USD

(Dan Tri) - Phu Yen province is looking for large enterprises to invest in seaports, petrochemical, metallurgical and energy industries in Hoa Tam Industrial Park.

Hoa Tam Industrial Park is located in Hoa Tam commune, Dong Hoa town, Phu Yen province with an area of about 1,080 hectares.

Hoa Tam Industrial Park has an advantage in developing maritime transport, as it owns Bai Goc port with a water depth of 20-25m.

Bai Goc port is oriented to be implemented in the form of investors investing and operating by themselves; there are general ports, specialized ports for steel factories; specialized ports for oil refineries, liquid and gas cargo; logistics area. Specialized ports receive ships with a capacity of up to 250,000 tons. General ports receive ships with a capacity of up to 50,000 tons.

Recently, Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group, said that he is completing procedures to invest in 3 projects in Hoa Tam Industrial Park of Phu Yen, with a total investment of 5 billion USD. These projects are Bai Goc Port (estimated investment capital of about 24,000 billion VND); investment and business of infrastructure of Hoa Tam Industrial Park (estimated investment capital of about 13,300 billion VND); Hoa Phat Iron and Steel Complex in Hoa Tam Industrial Park (estimated investment capital of about 86,000 billion VND).

About 10 years ago, a business completed the procedures and broke ground on the construction of the Vung Ro Petrochemical Refinery with a total investment of 3.2 billion USD, but to date the project remains "on paper".

To provide land for investors to carry out the project, the Phu Yen provincial government carried out compensation and site clearance, and supported resettlement for people in the refinery area. Since then, houses have been demolished and leveled.

However, after that, the owner of the oil refinery project was no longer able to invest, the project "stalled", the land was abandoned, causing waste for a long time.

In 2018, the Phu Yen Economic Zone Management Board decided to revoke the investment certificate of the Vung Ro Oil Refinery project granted to Vung Ro Petroleum Company Limited. In 2023, the People's Committee of Phu Yen province issued a decision to revoke nearly 134 hectares of land at the Vung Ro Oil Refinery project (onshore port part) in Hoa Tam commune, Dong Hoa town. This decision was issued after the investor of the above project, Vung Ro Petroleum Company Limited, voluntarily terminated the project investment.

Traffic in Hoa Tam Industrial Park is not yet synchronized, some places are well-built, some places have potholes causing dust.

Vinh Cuu overpass (in Hoa Tam Industrial Park) on Phuoc Tan - Bai Nga road (connecting Vung Ro port, Bai Goc port with industrial parks in Nam Phu Yen Economic Zone) has been "blocked" since 2019 due to site clearance problems.

Da Nong Bridge crosses Ban Thach River, nearly 500m long, 11m wide with 2 lanes. The bridge is an important traffic hub of Dong Hoa town connecting Hoa Tam Industrial Park with residential areas.