Quang Ninh signs off on Rent-A-Port IP-port Project

Photo - Le Toan

The $128 million Tien Phong Industrial Park development covers 487 hectares in the Mac Dynasty Lagoon area in Quang Yen district. According to local authorities, the developers plan to start construction next year.

This is the third industrial park project that these companies have developed, and it follows in the footsteps of their successful Dinh Vu Industrial Park and Haiphong International Gateway Port Industrial Park in Haiphong city.

The new project wants to capitalise on growing Japanese, South Korean, and European inward investment.

Rent-A-Port and its partners undertook a feasibility study of the project in 2013, and in April Rent-A-Port and consultancy and engineering firm Ecorem submitted their proposal for a site covering 3,710 hectares. Accordingly, the first phase will be carried out from 2016 to 2020, with a total investment cost of $412 million.

Although Rent-A-Port intended to develop the first phase of the industrial land and logistic complex across 1,000 hectares, Quang Ninh was only prepared to offer 500 hectares in the Mac Dynasty Lagoon.

Rent-A-Port and InfraAsia – in association with Belgim International Port Engineering & Management – started investing in Dinh Vu industrial park in 1997. The first phase of this project is entirely occupied and the developer is developing phase 2 on a 377-hectare site.

According to Rent-A-Port, nearly 50 per cent of phase 2 is already occupied. So far, the industrial zone has attracted 53 projects with a total investment of approximately $3 billion. Foreign investors in the zone include Bridgestone, Shin-etsu, Chevron, Toyota Tsusho, JX Nippon and Indemisu.

Positioned on the border of southern China’s Guangxi province, and bordering Vietnam’s Lang Son, Bac Giang, Haiphong and Hai Duong, Quang Ninh is emerging as the third economic hub in the north of Vietnam, after Hanoi and Haiphong. It is also home to the nation’s largest coal mine. The province is already home to 11 industrial parks and two economic zones. In addition, the government is preparing to establish a special economic zone in the province in order to boost economic growth in the region.

Thailand’s Amata Corporation is also awaiting a government response to its proposal to build a $2 billion hi-tech park and township complex in Quang Yen district.