A series of leading financiers from the United States and Japan have proposed making investments in several large liquefied natural gas-fired (LNG) power and storage plants in the Van Phong economic zone of Khanh Hoa province.

At present, a total of four giant investors, including Sumitomo Corporation and J-Power of Japan, along with a venture between Vietnamese firm Embark United and Quantum and Millennium Group from the US, have expressed their keen interest in injecting money into (LNG) power and storage plants in Khanh Hoa, the provincial administration has said.

Khanh Hoa has agreed to select four locations that are suitable for the implementation of the projects, including Van Phong 2 area, Ninh Thuy Industrial Park, Van Phong petrochemical refinery complex, and Ninh Tinh Industrial Development Zone. Each of these locations is part of the southern area of the Van Phong economic zone.

According to a statement issued by local authorities, the proposed LNG power projects have investment capital of over VND800 billion each.