US$300m boost from tenants - Singapore
SINGAPORE-BASED SembCorp Parks, part-owner and manager of the Vietnam-Singapore Industrial Park, has already secured 15 tenants who will pump more than US$300 million into its latest industrial park as it broke ground yesterday in northern Vietnam.
Among the tenants are Fujikin Vietnam II, which, among other things, will make parts for the semiconductor and chemical industry as well as build computer software products for export to Japan and elsewhere. The company plans to invest US$50 million in the new park in Bac Ninh in north-eastern Hanoi.
Other companies which have booked space there include Unigen (R&D activities), Petrolimex International (industrial and decorative paint) and Trading Investment and Development Company (construction of hotel and outdoor sports complex).
Low Sin Leng, co-chairman of the VSIP and Township Development Joint Stock Company, said yesterday that the latest US$103 million project will be ‘a premium 700-hectare industrial township that integrates commercial and residential facilities with industrial park development’.
While a government to government initiative, she said SembCorp and Betamex, the Vietnamese state enterprise which has a stake in it, have run VSIP as a commercial business.
‘Over the last 11 years, the VSIP project in the south has expanded from its original 500 hectares to 845 hectares and successfully attracted 347 foreign as well as local manufacturing companies to the industrial park,’ Ms Low said. ‘It has brought a total investment value of US$2 billion and will create 75,000 jobs in the Binh Duong province.’
SembCorp Parks, a wholly-owned subsidiary of SembCorp Industries, a leading utilities and marine group listed on the Singapore Exchange, has a 40.31 per cent effective share in the latest VSIP project.
Source : Business Times - 12 Dec 2007
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