DEEP C, Bamboo Capital and Sojitz team up for IP development in Vietnam

November 27, 2021 | 11:15
Within the framework of the Investment Promotion Conference in Japan during Prime Minister Pham Minh Chinh's official visit, Hong Duc Industry JSC (part of DEEP C Industrial Zones), Bamboo Capital Group, and Sojitz Corporation have signed an MoU on tri-party cooperation to develop a $250 million industrial park and ancillary infrastructure.
DEEP C, Bamboo Capital and Sojitz team up for IP development in Vietnam
Prime Minister Pham Minh Chinh witnessed the signing of the cooperation between Bamboo Capital Group, Sojitz Group (Japan), and DEEP C Industrial Zones

Under the agreement, DEEP C Industrial Zones together with Bamboo Capital Group and the Sojitz Corporation will develop an industrial park project including a rooftop solar power as well as ancillary infrastructure facilities in Vietnam’s northern region.

DEEP C is a cluster of industrial parks and seaports developed and operated by the investment holding Infra Asia Investment Hong Kong (IAI, majorly owned by Belgian company Ackermans van Haaren), in Haiphong city and Quang Ninh province, the most dynamic development area in northern Vietnam.

All three parties set the target to develop the first industrial zone in Vietnam that is fully energy independent by enhancing the generation and consumption of renewable energy.

Over 24 years of establishment and development, DEEP C has established its position as one of the most prestigious industrial zone (IZ) developers in Vietnam. DEEP C has lured more than 140 secondary investors in various manufacturing and logistics services, with total registered capital reaching $4 billion.

DEEP C is now operating five IZ projects with a total area of 3,400 hectares, empowered by synchronised infrastructure network and reliable utilities and services. The potential to develop rooftop solar network on factories and workshops in DEEP C Industrial Zones is very promising and part of the sustainability vision the company has been pursuing.

Bamboo Capital (BCG) is a Vietnamese multi-industry corporation, with strong focus on renewable energy. BCG Energy, a subsidiary of BCG is one of the pioneers in the development of renewable energy in Vietnam. Today, BCG Energy owns over 500MW in solar energy capacity and aims to reach 1.5GW generation capacity by 2023.

The third partner joining DEEP C and BCG is Sojitz Corporation, one of the top multi-industry corporations of Japan that is listed in the Forbes Global 2000.

Encompassing almost 440 subsidiaries and branches within Japan and 50 other countries and regions, Sojitz operates in diverse fields including automobiles, manufacturing of machinery and equipment; metal, energy; chemicals and industrial infrastructure, as well as agriculture-forestry-fishery and consumer goods.

Sojitz Corporation was one of the first Japanese investors to foray into Vietnam in 1986, as well as the first foreign independent power producer (Phu My 3 Power Plant) in Vietnam’s southern province of Ba Ria-Vung Tau.

In addition, Sojitz has a number of investment projects in IP infrastructure, afforestation, and timber production and trading across Vietnam.

The tri-party agreement between DEEP C, BCG, and Sojitz is expected to leverage each party’s strengths to jointly develop the IP project and ancillary infrastructure facilities, including rooftop solar systems as well as research other types of green energy and storage, so as to ensure clean and stable power for IZs operated by DEEP C.

All three parties set the target to develop the first industrial zone in Vietnam that is fully energy independent by enhancing the generation and consumption of renewable energy. This cooperation aims to not only bring economic benefits to DEEP C, BCG, and Sojitz but also contribute to reducing emissions, moving towards carbon neutrality, and promoting the sustainable development of Vietnam in the future.

By Son Dung

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