Expanded VSIP project greenlighted

November 29, 2016 | 18:00

(0) user say

VSIP J.V. Co., has been allowed to develop Vietnam-Singapore Industrial Park III (VSIP III) in the southern province of Binh Duong with the total investment capital of VND6.407 trillion ($286.5 million), marking a significant expansion in its Vietnamese operations.

According to information published on the Government Portal, the construction of 1,000-hectare facility, located at Tan Uyen town and Tan Lap commune, Bac Tan Uyen district, will last for 50 years.

Earlier, in September, VSIP J.V. announced that it signed memorandum of understanding (MOU) to explore two new expansions in Binh Duong and Bac Ninh provinces. These will potentially add 1,500 to the 6,660 hectares of the existing seven VSIP projects, which now span across Binh Duong, Bac Ninh, Haiphong, Quang Ngai, Hai Duong, and Nghe An provinces.

VSIPs are developed by VSIP J.V. Co., a 49-51 joint venture between Vietnamese state-owned enterprise Becamex IDC Corporation and a Singaporean consortium led by Sembcorp Development. Sembcorp holds a 92.9 per cent stake in this consortium.

During 20 years of operating in Vietnam, VSIPs have attracted $9 billion investment from more than 630 multi-national companies. VSIP Binh Duong alone lured 458 foreign investment projects with a total investment capital of $6.6 billion, and 21 projects worth VND3.88 trillion ($173.5 million) from domestic investors.

RELATED CONTENTS:
	VSIP celebrates 20 years of success
	VSIP Nghe An lays first brick of wastewater treatment plant
	VSIP Quang Ngai to build immense green urban area
	VSIP Nghe An commences construction
	VSIP unveils innovative living
	Sembcorp brings “innovation park” to Ho Chi Minh City