Sembcorp subsidiary to develop industrial park in Vietnam

The corporate could have 29.6% efficient possession within the redevelopment mission.

A subsidiary of Sembcorp Industries, Sembcorp Growth, can be concerned within the growth of a brand new industrial park in Vietnam’s Quang Tri province.

The mission, Quang Tri Industrial Park, can be positioned 60 kilometres of Phu Bai Worldwide Airport (Hue airport) in Central Vietnam. It would span roughly 481 hectares, with the preliminary growth part comprising 97 hectares.

The funding licence for this mission, Quang Tri Industrial Park, has been issued to a consortium that features Vietnam Singapore Industrial Park Joint Enterprise Co (VSIPJV), Sembcorp Growth’s three way partnership firm with long-standing companion Becamex IDC Company.

In accordance with the announcement posted within the Singapore Trade, following the receipt of the funding licence, the brand new three way partnership would require the clearance of anti-monopoly laws and enterprise registration to determine a three way partnership firm in Vietnam.

Sembcorp Growth’s efficient possession within the mission can be 29.6%. The complete course of is anticipated to be accomplished by mid-2021.

The Quang Tri Industrial Park mission just isn't anticipated to have a fabric affect on the earnings per share and internet asset worth per share of Sembcorp Industries for the monetary yr ending December 31, 2021, Sembcorp mentioned.