A Memorandum of Understanding on leasing the land and water surface for the 114.2-ha Doosan complex was signed in Quang Ngai on September 12 between representatives of the EZ managing board, and the Doosan Heavy Industries and Construction Company and the Doosan Mecatec company.

Under the agreement, the Doosan Heavy Industries and Construction Company will invest US$200 million in building a Doosan Vina plant, which will produce mainly heat recovery steam generators and boilers.

Meanwhile, the Doosan Mecatec company will build a Doosan Mecatec (Vietnam) plant at a cost of US$50 million to manufacture chemicals processing equipment, wind power equipment and products relating to infrastructure.

The EZ managing board and the relevant provincial agencies are committed to handing over 60 ha of the total area for the first phase of the project in early 2007 and the remainder by September.