Consortium proposes $850 mln energy storage battery plant in southern Vietnam
A consortium of five international and Vietnamese companies has proposed investing in an energy storage battery plant in the Ho Chi Minh City-based Saigon High-Tech Park (SHTP), with total investment capital of $850 million.
The DCH consortium includes Dai Dung Corporation, Construction Corporation No.1 (CC1), and steel giant Hoa Phat Group, along with international partners China Construction Eighth Engineering Division Corp., Ltd. (CCEED) and Smart Tech Group Vietnam (STG VN) - a subsidiary of U.S.-based Smart Tech Group Inc, according to a formal proposal to the municipal People’s Committee submmited by DaiDung Corporation on behalf of the consortium.
The Saigon High-Tech Park (SHTP) in Ho Chi Minh City. Photo courtesy of VnEconomy.
Under the proposal, the consortium said it plans to invest in an energy storage battery facility to serve both industrial and residential sectors, with an initial designed capacity of 5 GWh in phase 1 and higher in subsequent phases.
In addition, the plant will also provide and transfer industrial software solutions, and focus on R&D in battery technologies, robotics, and urban railway technologies.
The project is expected to cover 12-15 hectares in the SHTP, featuring the manufacturing plant, office area, warehouses, and a research center. Work on the plant is scheduled to begin in 2026, with completion set for 2028.
Regarding the project’s progress, the consortium stated it has completed the necessary documentation as guided by the SHTP and has finalized its financial commitments.
In its submission, the consortium expressed a desire to meet with the Chairman of the Ho Chi Minh City People’s Committee to present the project in detail and discuss possible support mechanisms from the city.
“We believe that with the combined experience and capacity of the consortium, along with support from both domestic and international partners, the project will be successfully implemented, contributing to the socio-economic development of HCMC and the country,” according to DaiDung Corporation.
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