Central Vietnam province okays Thailand’s WHA to build $55 mln industrial park

WHA Industrial Development, a leading industrial realty developer from Thailand, is set to build the $55-million first phase of its WHA Smart Technology industrial park in Vietnam’s central province of Thanh Hoa.

Thanh Hoa authorities gave their approval for the project in an application sent to the Ministry of Planning and Investment.

As part of the to-be-built Phu Quy Industrial Park, the facility will cover 178.51 hectares. The project is set to become operational in 18 months after land is delivered to the investor.

The facility will prioritize foreign investments in sectors including supporting industries and high-tech industry with modern and eco-friendly technologies.

Thanh Hoa province also urged the Ministry of Planning and Investment to aid the investor with administrative procedures, especially those related to solutions for power lines running through the facility, rainwater and wastewater treatment, and financial capacity.

Currently, WHA is the operator of 11 industrial parks in Thailand and one in Vietnam, namely WHA Industrial Zone 1 in the central province of Nghe An, which neighbors Thanh Hoa. The 1,850-hectare facility has an investment of VND22 trillion ($939 million) and has completed the first phase of 498 hectares.

In May, WHA noted its plan to build the 499-hectare Phu Quy Industrial Park in Thanh Hoa province with an investment of $150 million. The facility is expected to expand to 545 hectares by 2030 and 845 hectares after 2030.