Vietnam’s Khanh Hoa leases sea area in Cam Ranh Bay for fuel depot project

The decision, issued on Wednesday, assigns the site to Cam Ranh Port Joint Stock Company, representing a consortium with PetroVietnam Oil Corporation.

The total leased area is about 19,930 square metres, including more than 18,136 square meters of sea surface in Cam Linh Ward near Ba Ngoi port.

Local officials said on Friday that only about 1,800 square meters is existing land, with the remainder to be reclaimed.

The decision allows the investor to reclaim the sea area, which will be counted as leased land after reclamation.

It also exempts the project from sea-use fees during a 10-month reclamation period, and from land rental fees during a 23-month construction phase and for a further seven years, in line with government regulations.