Sembcorp subsidiary to develop industrial park in Vietnam

The company will have 29.6% effective ownership in the redevelopment project.

A subsidiary of Sembcorp Industries, Sembcorp Development, will be involved in the development of a new industrial park in Vietnam’s Quang Tri province.

The project, Quang Tri Industrial Park, will be located 60 kilometres of Phu Bai International Airport (Hue airport) in Central Vietnam. It will span approximately 481 hectares, with the initial development phase comprising 97 hectares.

The investment licence for this project, Quang Tri Industrial Park, has been issued to a consortium that includes Vietnam Singapore Industrial Park Joint Venture Co (VSIPJV), Sembcorp Development’s joint venture company with long-standing partner Becamex IDC Corporation.

According to the announcement posted in the Singapore Exchange, following the receipt of the investment licence, the new joint venture will require the clearance of anti-monopoly legislation and enterprise registration to establish a joint venture company in Vietnam.

Sembcorp Development’s effective ownership in the project will be 29.6%. The entire process is expected to be completed by mid-2021.

The Quang Tri Industrial Park project is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2021, Sembcorp said.

Also Read

Keppel's net profit rises in 1Q24, fueled by key sectors

OKP unit bags $92.9M contract for new cycling path networks

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit