Dak Lak welcomes investments worth billions of dollars

Dak Lak welcomes investments worth billions of dollars

Dak Lak People’s Committee has granted approval decisions for 25 ventures with a total registered capital of more than $1.54 billion.

The activities took place at the conference on announcement of the master plan and investment promotion of Dak Lak province on June 27.

Notably, Srepok 3 Solar Power JSC will implement the Srepok 3 floating solar power plant with a capacity of 304 MW. Covering an area of 361 hectares, the venture has a total capital of $294.62 million.

Transport Engineering Construction Corporation No.5 – JSC (Cienco 5) gained in-principle approval to build the Hoa Xuan Tay Industrial Park valued at $180.77 million.

A consortium of Thai Binh Duong Group JSC and Thuan Phong Energy Investment & Development JSC will invest in the Thuan Phong Dak Lak wind power venture worth $147.69 million. Capella Quang Nam JSC will develop infrastructure for Hoa Xuan Dong Industrial Park, with a total capital of $146.54 million.

The NT1 and NT2 wind power ventures will be undertaken by Hoa Binh Energy Investment Group JSC and Nguyen Thao Wind Power JSC has received in-principle approval for the NT1 and NT2 wind power projects, with a total investment of $146.54 million.

Regarding residential development, Cloud Land JSC will build a social housing project in An Phu commune, Tuy Hoa city, with an investment of $99.23 million. The Viet An Phu joint venture will invest in a new rural residential area in Hoa Thang commune Buon Ma Thuot city, with an investment capital of $51.15 million.

Besides granting approval decisions, Dak Lak has also signed memoranda of understanding with 78 projects worth over $38.46 billion. Notably, Xuan Thien Group is exploring the possibility of developing wind and solar power projects with a combined capacity of 5,000 MW in the locality. The group is also keen on a high-tech livestock complex combined with renewable energy, with an estimated investment capital of $7.38 billion.

VinEnergo has plans to research renewable energy initiatives with a total capacity of about 6 GW and valued at $4.67 billion. T&T Group eyes a mix-used urban area at the eastern gateway of Buon Ma Thuot and a green, smart, and ecological urban area in the western part of Tuy Hoa city. This is coupled with a renewable energy venture in the locality, with a total capital $4.41 billion.

In addition, the province signed an MoU with FLC Group regarding investments in urban real estate, tourism real estate, and renewable energy, with a total capital of $961.54 million. Meanwhile, BIN Corporation is keen on the infrastructure for the Hoa Thanh Industrial Park in the South Phu Yen Economic Zone and an AI data centre complex powered by renewable energy, with a total investment capital of nearly $2.09 billion.

After the merger with Phu Yen last year, Dak Lak has gained more space for development. The locality boasts a large land bank, abundant resources, and ample potential for developing agriculture, renewable energy, processing industries, logistics, and tourism. Under the master plan to 2030, with a vision towards 2050, the locality is envisioned as a regional hub for high-tech agriculture, processing industries, clean energy and services in the Central Highlands.

VIR