A view of Trà Vinh Province. The province has given the nod to a VNĐ576 billion petroleum storage terminal project. — VNA/VNS Photo

Trà Vinh Province has approved an investment worth VNĐ576 billion (US$23.2 million) to develop a petroleum storage terminal project by Trà Vinh Petrochemical and Energy Joint Stock Company.

The project is developed on an area of more than 46ha in Kim Sơn Commune, Trà Cú District, to build a petroleum storage with a capacity 50,000cu.m and a terminal which is capable of receiving 20,000 tonne vessels.

The project is expected to be put into commercial operation by November 2026.

Trà Vinh has granted licences for four projects from the beginning of this year, included three domestic investment projects with a total capital of VNĐ967 billion and a foreign investment project worth $2 million.

There are 384 valid projects in the province, including 39 FDI projects worth $3 billion and 345 domestic investment projects worth VNĐ143.288 billion.

Deputy Chairman of the provincial People’s Committee Nguyễn Quỳnh Thiện said that the southern province is calling investments in 35 projects this year, adding that Trà Vinh will strive to further improve the investment climate, administrative reform and dialogues with investors. — VNS