$20.5 mln industrial park construction starts in Quang Ninh province

Construction of the $20.5-million Bac Tien Phong Industrial Park project kicked off on Thursday in the northern province of Quang Ninh.

The 7.4-hectare project, the first secondary project in the Bac Tien Phong Industrial Zone, is invested by BW Industrial Development Bac Tien Phong under BW Industrial Development, a logistics and industrial real estate developer co-founded by American investment giant Warburg Pincus and Vietnam's Becamex IDC.

It aims to build a system of high-quality ready-built warehouses and factories to serve projects in the industrial park, which can contribute to Quang Ninh province’s target of attracting $1 billion in foreign direct investment into its industrial parks and economic zones this year.

“The Bac Tien Phong Industrial Zone features an all-in-one model that integrates a dedicated petrochemical park and a built-in seaport complex with general cargo terminals and liquid jetties,” Koen Soenens, general sales and marketing director of DEEP C Industrial Zones, the developer of Bac Tien Phong Industrial Zone, said last year while commenting on BW’s land acquisition in the zone.

The 1,193-hectare Bac Tien Phong Industrial Zone has a prime location 15 kilometers away from Dinh Vu Port in Hai Phong city and 20 kilometers from Cat Bi International Airport.

As it directly connects with the Hai Phong-Ha Long-Mong Cai Expressway, the zone facilitates goods transfers between China and Vietnam and the “China Plus One” strategy.