PSL America to invest in key Hue projects

15:27 | 03/11/2015 Economy

The PSL America Group will implement several key investment projects in the central Thua Thien - Hue Province, following the signing of a memorandum of understanding yesterday.

PSL America to invest in key Hue projects

PSL chairman Thomas Lee and local official Nguyen Van Cao at the signing session — VNS Photo Hue Phong

Following the agreement, the group will conduct feasibility studies for the construction and operation of a harbour at Chan May Port in the locality's southern margins.

It will also invest in the development of an urban port, and hi-tech, duty-free and industrial facilities in the local Chan May - Lang Co Economic Zone, 30km north of the vibrant Da Nang City.

The group's investment will enter the northern section of Phong Dien Industrial Park with the construction and operation of a factory for processing of white sand that is available in 17,500ha in Phong Dien District.

A 500MW wind, solar or biomass power plant will also be established elsewhere in the province. The group wants to invest in green technology in the plant.

PSL America wants six months to complete the feasibility study of the projects. The total intended investment has not been revealed, but observers said these were large projects for the less-developed central province.

Speaking at a working session with PSL America, the provincial People's Committee Chairman Nguyen Van Cao said the local authorities would actively work to get site clearance and administrative procedures completed for the projects.

PSL America has its headquarters in New York. It has invested in projects in South Korea, Thailand and other localities in Viet Nam./.

Source: VNS