VIGLACERA'S $124 MILLION INDUSTRIAL PARK IN BAC NINH APPROVED

Thuan Thanh I Industrial Park will be built in Bac Ninh province with a total investment of $123.8 million with Viglacera Corporation as the main investor.

The prime minister has authorised Viglacera Corporation – Vietnam's leading construction materials provider – to invest in Thuan Thanh I Industrial Park (IP).

Thuan Thanh I IP covers over 249 hectares across three communes: Ninh Xa, Tram Lo, and Nghia Dao in Thuan Thanh district, Bac Ninh province.

The total initial investment of the project is VND2.8478 trillion ($123.8 million), of which the contributed capital of Viglacera is more than VND859.7 billion ($37.4 million).

The time for project implementation will not exceed 36 months from the date of handing over the land. The IP will be operating for 50 years from February 17, 2021.

The locality is also responsible for selecting competent investors to implement the project, organising land acquisition, compensation, site clearance, and the conversion of land use purposes.

To ensure the project is implemented, the board of industrial park management will require investors to make a deposit. Additionally, investors can deploy the project only after the Ministry of Natural Resources and Environment approved the environmental impact assessment report. Moreover, investors are obligated to report to the competent authority upon discovery that minerals have a higher value than minerals used as common building materials.

Source: VIR