HCM City to create favorable conditions for PetroVietnam�s
HCM City will create favorable conditions for the national oil
and gas group PetroVietnam and its subsidiaries to carry out investment projects
in the city, the municipal People�s Committee said in a document.
PetroVietnam and its member companies have invested or will
invest in numerous projects in HCM City. They include the Oil and Gas Science
and Technology Center in District 2 by the Oil, Gas and Electricity Corporation,
the office building project on Thanh Da Peninsula in Binh Thanh District by
Petrosetco Co., two resettlement areas in District 2 and a 1,000-ha new urban
town worth US$2 billion in the 6,000-ha Northwest New Urban Town in Cu Chi and
Hoc Mon districts.
Other projects include an LPG production and distribution facility
jointly developed by the Saigon Automotive Mechanical Engineering Corporation
(Samco) and Oil and Gas Transport Service Co. (Cofaco), a gas pipeline from HCM
City�s Hiep Phuoc to Dong Nai Province�s Nhon Trach, and an oil spill rescue
Besides these projects, HCM City wants PetroVietnam to invest in
projects of building elevated roads, metro and monorail systems and outer
beltways, developing industries using oil and gas products for consumption and
production purposes, and building houses for the city�s housing development
Late last year, HCM City and PetroVietnam
signed an agreement to strengthen their bilateral cooperation and investment
relationship in many fields.
(HCM City, November 12, 2007)