SLP Vietnam kicked off the construction of its 29,000-square meter SLP Park Binh Minh warehouse project in Vinh Long province on Monday.
The investor is a unit of SEA Logistic Partners (SLP), an industrial and logistics facility developer and operator backed by warehouse giant GLP.
Construction on the warehouse, SLP Vietnam’s first modern one in the Mekong Delta, is expected to complete in the second quarter of next year, serving one of Southeast Asia’s largest e-commerce platform developers.
At the groundbreaking ceremony, chairman of SLP Vietnam Kent Yang said the Mekong Delta is a strategic area with great potential for logistics activities.
"Forming a logistics center or modern warehouse facilities in this area is extremely necessary, easing the overload of Ho Chi Minh City's logistics system and facilitate import and delivery of goods," Yang said.
Vinh Long province is located to the east of Can Tho city, the leading economic hub of the Mekong Delta. Located in Binh Minh Industrial Park, the warehouse is about 10 kilometers away from the center of Can Tho and adjacent to the Ho Chi Minh City-Can Tho section of National Highway 1A, a route to link the two economic hubs.
Most recently, in June, SLP commenced construction of a nine-hectare warehouse in the northern province of Bac Ninh. The firm has developed six logistics facilities with a total land area of about 860,000 square meters, focusing primarily on two of Vietnam's largest markets, Greater Hanoi and Greater Ho Chi Minh City, SLP founder and managing partner Jenkin Chiang said at the groundbreaking ceremony on June 23.
GLP in late January launched GLP Vietnam Development Partners I, its first logistics development fund in Vietnam with $1.1 billion in capital. The fund is also one of Southeast Asia's largest logistics development funds.