American business invests highways from Long Thanh airport to Ho Tram

Recently, the People’s Committee of Ba Ria – Vung Tau province submitted to the Government of the project to build a high -speed route connecting Long Thanh airport to Ho Tram, with a total investment of VND 17,000 billion.

At the meeting with Prime Minister Pham Minh Chinh on the afternoon of March 20, the representative of Ho Tram Project Co., Ltd said that the company proposed and is working with agencies and localities to carry out procedures to invest in building a high -speed route connecting Long Thanh airport to Ho Tram project (Xuyen Moc district, Ba Ria – Vung Tau province). The total estimated investment is about VND 17,300 billion.

This proposal was given by the business after the Prime Minister’s suggestion at the last meeting, according to the representative of Ho Tram.

Earlier, the People’s Committee of Ba Ria – Vung Tau proposed a 41 km long highway, the starting point connected to Ring 4 of Ho Chi Minh City in Chau Duc district and the end point connected to the coastal road of Vung Tau – Binh Thuan in Xuyen Moc district, Ba Ria – Vung Tau province. This is a 4 -lane urban highway (the future plan is 6 lanes), the design speed of 100 km per hour.

The local proposal to put this highway into the provincial planning and bring Go Gang airport out of the planning of Ba Ria – Vung Tau province in the period of 2021-2030, with a vision to 2050.

According to the Prime Minister, this route has many meanings such as helping to expand Ho Tram’s investment, increasing the value of the project. At the same time, the highway also contributes to perfecting the transport infrastructure system, opening a new development space, increasing land value for localities and areas.

Ho Tram Project Co., Ltd is a member of Warburg Pincus’s strategic investment ecosystem, a world’s leading private investment fund based in New York, USA. This investment fund has more than 55 years of experience, operating capital of about 85 billion USD.

Ho Tram has invested in Vietnam more than 1 billion USD. Plus the capital for this route, the total investment capital of Ho Tram can meet the conditions to be considered to enjoy some other favorable policies.

The Prime Minister asked the investor to implement this transport project in the spirit of choosing the short route, fast, the shortened procedure as possible. Along with that, Ho Tram needs to expand investment, form a large and large tourist center in Ba Ria – Vung Tau.

He also proposed that the business informed the US authorities early on positive results in resolving problems, promoting the Ho Tram project and investment projects of American businesses in Vietnam.

On the same day to meet Prime Minister Pham Minh Chinh, Mr. Bae In Han, General Director Hyosung Dong Nai said the group continued to invest more than US $ 1.5 billion in Vietnam. In particular, Hyosung invested in biotechnology factory and carbon fiber fiber factory in Ba Ria – Vung Tau province.

He repeated the Group’s commitment to “put the future in the next 100 years in Vietnam”, with the assessment of Vietnam with a stable and convenient investment environment for businesses to develop.

Hyosung is a leading Korean corporation with a turnover of 16 billion USD in 2023. Hyosung is Korea’s third largest FDI partner in Vietnam, with a total capital that has invested about 4.6 billion USD.

The Prime Minister also received Mr. Kulachet Dharachandra, General Director of Long Son Petrochemical Co., Ltd. According to Kulachet Dharachandra, this enterprise will invest an additional $ 400 million, in order to expand the project and use imported Ethane as raw materials.

Prime Minister Pham Minh Chinh highly appreciated the project’s operation, affirming that the Vietnamese side is always ready to actively coordinate with the business to solve difficulties and obstacles. He said that in the coming week, relevant agencies will complete the procedures for expanding investment for Long Son petrochemical project.

Long Son Petrochemical Complex in Ba Ria-Vung Tau province is invested by SCG Group (Thailand), total investment of more than 5 billion USD, designed with 1.4 million tons of petrochemical products. Currently, the project is completed and put into operation. This is the largest FDI project in Ba Ria – Vung Tau province and the leading in the country.