Son My Industrial Park Investment Construction and Trading Infrastructure Co., Ltd (IPICO) on August 30 held the groundbreaking ceremony for the Son My I Industrial Park.
Son My I IP is invested in and developed by IPICO and occupies a total area of 1,070 hectares in a prime location. It is a key project for Binh Thuan province and Vietnam and is expected to be a magnet for future investment.
The IP is zoned according to four land use functions, that is land for factories, service centre areas, technical infrastructure areas, and green and water areas. The park’s two gas power plants, Son My 1 and Son My 2, are a key highlight with a total capacity of 4500MW, covering an area of 200ha.
The park also includes a 100ha liquefied natural gas (LNG) warehouse port and 430ha for supporting industries. Son My I IP will also have a subdivision specialising in the production of auxiliary equipment for the development of green energy industries.
Additionally, over 30 per cent of the park will be set aside for technical infrastructure, utility constructions, industrial service zones, as well as key amenities for park workers such as education, training, medical, healthcare, and office facilities.
|Son My I is a key project for Binh Thuan province and Vietnam and is expected to be a magnet for future investment. |
At the ceremony, Prime Minister Pham Minh Chinh instructed relevant departments and central agencies to coordinate and strengthen efforts to support Binh Thuan, as well as promptly resolve difficulties and bottlenecks to maximize Binh Thuan’s potential and harness its advantages, creating favourable conditions for the smooth progress of the project.
“Aiming to become a smart and green industrial park with sustainable energy at its core, the company will prioritise the development of renewable and clean energy, which will reduce carbon and greenhouse gas emissions. Son My I also enjoys a strategic location, which is suitable for developing an integrated seaport to facilitate export-import of local goods and agricultural products,” said Le Quang Hieu, vice chairman of IPICO.
Son My I IP has already attracted leading global investors such as PetroVietnam Gas JSC, AES Group, and a Consortium of Électricité De France S.A., Sojitz Corporation (Japan), Pacific Corporation JSC, and Kyushu Electric Power Co. Inc. (Japan).
Son My I Industrial Park is targeting to complete the construction of the park’s entire infrastructure by 2025. Once in operation, the park is expected to create job opportunities for thousands of workers, improving the quality of life for local communities as well as setting the stage for Binh Thuan’s favourable growth trajectory.
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