Work is underway on the Phuong Mai wind power plant in Nhon Hoi EZ. — Photo baocongthuong.vn

The HCM City-based Fico JSC has been given initial approval from the Binh Dinh Economic Zone (EZ) Authority to develop two wind power plants in the Nhon Hoi EZ.

Spanning 175ha, the Nhon Hoi 1 wind power plant would have a capacity of 30MW annually, and would cost more than VND1.32 trillion (US$56.7 million) to build, according to the provincial portal.

The 30MW Nhon Hoi 2 wind power plant, with an estimated cost of nearly VND1.25 trillion ($54 million), would cover 200ha.

The two plants are slated for completion in September 2021.

The investor would have its approval revoked if it failed to implement the projects within a year, according to the province.

Last year, the central province of Binh Dinh granted investment licences to 83 domestically-financed projects with total registered capital of more than VND48 trillion. Of the total, 10 projects worth VND30 trillion were in the Nhon Hoi EZ.

During the year, the province also licensed six foreign-invested projects valued at $80 million, bringing the number of foreign-invested projects in the locality to 80, capitalised at $710 million.

In order to lure more investment, Binh Dinh would focus on enhancing domestic and foreign promotions with a focus on large domestic enterprises and foreign corporations, according to the provincial Investment Promotion Centre.

It will also speed up the completion of key infrastructure projects, improve the business environment and help investors complete administrative procedures.

“It is important for us to accelerate eligible projects to start construction, and terminate projects that are behind schedule,” the centre said. — VNS