Sonadezi to build $48 mln industrial park in Binh Thuan

Sonadezi Binh Thuan, a member of Vietnamese developer Sonadezi Corporation, plans to commence construction on its VND1,200 billion ($48.26 million) Tan Duc Industrial Park project in Binh Thuan province late this year.

The 300-hectare IP aims to seek tenants that operate in industries with modern technologies and waste treatment solutions, including textiles, mechanical equipment, construction materials, electronic items, pharmaceutical goods, food, and consumption goods, among others.

The project, located in Ham Tan district, is set to complete site clearance in November, as per provincial authority request.

Earlier, on August 30, construction started on the 1,070-hectare Son My 1 Industrial Park, home to two LNG power plants. Developed by Vietnamese industrial property developer IPICO also in Ham Tan district, it is the largest IP in the province and one of the first smart and eco-friendly IPs in the south-central region. Binh Thuan-based IPICO estimates the project to cost VND2,300 billion (over $98.2 million).

Binh Thuan province has nine industrial parks approved by the Prime Minister as per planning until 2020, covering 3,000 hectares.

Of which, the operating five, namely Phan Thiet phase 1, Phan Thiet phase 2, Ham Kiem 1, Ham Kiem 2, and Song Binh, have attracted 90 projects, including 28 foreign-invested ones, with registered capital of VND16,192 billion ($651.2 million) and $231 million, official data shows. Of the 90 projects, 64 have come into operation.