Frasers Property Vietnam, subsidiary of Singapore-headquartered Frasers Property, and SPX, a Vietnamese logistics services provider, have agreed to cooperate on setting up an automatic sorting center in Binh Duong province.
In a Tuesday announcement, Frasers Property will supply a built-to-suit premium industrial space at the Binh Duong Industrial Park to SPX. The facility will serve as SPX’s largest and most advanced automatic sorting center in southern Vietnam.
When operational, the 10.6-hectare facility will have a processing capacity of over 2.5 million parcels per day and feature the latest automated goods sorting system. The first phase of construction is scheduled for completion in 2025 with operations commencing the same year.
The project will provide thousands of new jobs and economic opportunities to surrounding communities, Frasers Property said.
Binh Duong Industrial Park is Fraser Property’s first industrial park in Vietnam to incorporate its innovative industry-first premium estates concept, offering high-quality industrial and logistics infrastructure and green open spaces.
The facility will help SPX expand its logistics operations in Vietnam, said Nguyen Kim Anh, director of SPX.
In Vietnam, Frasers Property’s portfolio includes one residential, two commercial and seven industrial projects. In the southern province of Binh Duong, it has two facilities: Binh Duong Industrial Park and the Eco Logistics Center.