$200 million Amata expansion in Vietnam in 2016

May 21, 2016 | 10:00

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Thailand’s largest industrial park developer Amata Corporation Public Company Limited (Amata Corp. PCL) plans to add $200 million to expand its two industrial parks’ in Vietnam in 2016 in order to meet foreign investor’s increasing demand, according to newswire Reuters.

Accordingly, Amata will invest in Amata City Bien Hoa industrial park (IP) and Amata City Long Thanh IP, both located in the southern province of Dong Nai.

According to chief executive officer Somhatai Panichewa, as of now, Amata has invested $60 million in Bien Hoa IP, which is the company’s first project in Vietnam. It is rated among the most dynamic economic zones in Vietnam, with 145 investors from 21 countries and territories investing $2.34 billion and creating 43,000 jobs.

Regarding Amata City Long Thanh IP, the 410-hectare project was licensed in 2015 and is expected to start receiving investors in 2017. Amata planned to pour the total capital of $634 million in Long Thanh IP, including factories, an urban area, and a service city. Once it starts operation, it will house high-tech, automated, and environmentally friendly companies.

Amata also applied for licences to develop two new projects, which it expects to receive in the third quarter.

Amata Vietnam was established in December 1994 as a joint venture of Amata Corp. PCL and Vietnam’s Sonadezi Bien Hoa-a state-owned developer of industrial estates in Dong Nai. To date, they have developed Bien Hoa 1, Bien Hoa 2, and Go Dau IZ.

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