The project will cover an area of 61ha, with total investment worth more than USD 1.2 billion.

According to the management board of the Ba Ria-Vung Tau industrial zones, the project’s duration will be 34 years. The underground storage facility will be completed by late 2020 and become operational by the beginning of the following year.

It is the largest-scale project to have received operation approval amongst the province’s industrial zones.

To date, there are 362 investment projects operating in the Ba Ria-Vung Tau industrial zones, with total capital exceeding USD 18.2 billion. The province lured an additional USD 2.1 billion from 42 projects in the first eight months of the year./.