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Work starts on industrial park
Asset management firm VinaCapital broke ground on the Ba Thien 2 Industrial Park yesterday in the northern province of Vinh Phuc.
The US$65 million, 308ha industrial park (IP), in Binh Xuyen District, will be built in three stages in three years. The development of the first 115ha is due for completion next year.
The IP will be equipped with two- to four-lane roads, a power system capacity of up to 126MVA, a drainage and waste water treatment system and a high-speed telecommunications system etc.
The first 20ha of the park has already been leased to ceramic tile manufacturer Viglacera Thang Long.
Ba Thien 2 IP will be developed with fundings from Vina CPK, a joint venture between Viet Nam Infrastructure Limited (VNI) and CPK Vinh Phuc, of which VNI holds a 90 per cent stake.
This is the first project to be carried out in the north by VinaCapital, which manages both companies.
Tony Hsun, executive director of VinaCapital, said that the IP would be conveniently located close to Ha Noi's Noi Bai International Airport and the Hai Phong seaport, and would become a destination for multinational companies, particularly those shifting operations from China to Viet Nam due to lower costs.
General Director of the Ba Thien 2 IP Hoang Thieu Son said that the park would be developed in a green and environmentally friendly manner, serving light industry, electronics and high-tech sectors with specific regard for sustainable development of the environment.
"I believe that the IP would be a good model for developing industrial zones throughout the northern provinces," Son said.
Ba Thien 2 IP is one of 20 industrial parks in Vinh Phuc Province, given priority for establishment between 2015-20 as part of Government plans.
vietnamnews
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