Quang Ninh licences Thai-invested US$1.6 billion project

09:28 | 05/04/2018 Economy

Amata VN Public Company Limited, a subsidiary of Thailand-based Amata Corporation PCL, has been licenced to develop the first phase of a US$1.6 billion industrial and urban project in the northeastern province of Quang Ninh.

PM Nguyen Xuan Phuc and his Thai counterpart, Prayut Cha-o-cha, attend a ceremony to hand over a licence to Amata VN PCL for developing a US$1.6 billion industrial and urban project in the northern province of Quang Ninh - Photo courtesy of Amata

Chairman of the Quang Ninh People’s Committee Nguyen Duc Long handed over the licence to an Amata VN PCL representative at the recent sixth Greater Mekong Subregion Summit in Hanoi in the presence of Vietnamese Prime Minister Nguyen Xuan Phuc and his Thai counterpart, Prayut Chan-o-cha.

To be built on 5,789ha in a strategic location close to airports and seaports, Amata Ha Long City will be an integrated industrial city designed for leading towards a smart city in future.

The project site is strategically located in the northern transportation hub close to international airports and a deep seaport that helps strengthen the logistics sector, Somhatai Panichewa, CEO of Amata VN PCL, said.

The mega project will be divided into three phases, with the first involving construction on an area of 714ha expected to begin in 2020.

Amata has been in Vietnam for more than 23 years, with its first industrial city project, Amata City Bien Hoa, spread over an area of 700ha in the south-eastern province of Dong Nai.

Amata City Bien Hoa houses 165 companies from 21 countries and territories, who have invested a total of more than US$2.7 billion and created 49,000 jobs.

A 1,270ha industrial city is under construction in Dong Nai’s Long Thanh district. Long Thanh Industrial City will earmark 33 percent of its space for a hi-tech industrial park with the rest being an urban development.