Phuoc An Port Investment Exploitation Joint Stock Company (Stock Code: PAP, UPCoM) has announced a Board of Directors Resolution approving the investment policy for the Phuoc An Industrial Zone Infrastructure Construction and Business Project (Phuoc An Industrial Zone).
The project spans 330 hectares in Phuoc An Commune, Dong Nai Province, with the aim of developing and commercializing industrial zone infrastructure. The total investment is estimated at nearly VND 5,379.5 billion, funded through equity and mobilized capital. Construction is scheduled from 2025 to 2028.
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According to the 1/2,000-scale detailed construction planning for Phuoc An Industrial Zone approved by the Dong Nai Provincial People’s Committee on March 28, 2025, the zone is divided into two sub-zones. Sub-zone A, west of Provincial Road 771C (58.37 hectares), prioritizes high-tech industries, SMEs, supporting industries, and innovative enterprises. Sub-zone B, east of Provincial Road 771C (271.63 hectares), focuses on supporting industries, multi-sector high-tech industries, services, and labor union facilities.
The industrial zone aims to be eco-friendly, attracting high-tech and supporting industry projects while leveraging Phuoc An Port’s strategic advantages. It is expected to create 18,000 jobs and provide up to 1,000 accommodations for high-skilled workers and experts.
In related news, Phuoc An Port recently released a written shareholder consultation document. Notably, the Board of Directors will propose a private placement of 125 million shares at a minimum price of VND 10,600 per share, limited to 100 investors. The shares will have a one-year transfer restriction, with issuance planned for 2025–2026, pending approval from the State Securities Commission.
Upon completion, Phuoc An Port’s charter capital will increase from VND 2,320 billion to VND 3,570 billion. The ownership stakes of PAP’s two major shareholders will decrease from 31.41% to 21.06%: Petrovietnam (PVN) will hold 9.8%, and Hoanh Son LLC will hold 11.26%.
The VND 1,325 billion raised from the issuance will fund construction, equipment procurement, and consulting for the Phuoc An Port Project (Dong Nai), covering 164.4 hectares with 9 berths (total length: 2,830 meters) capable of handling 30,000–60,000 DWT vessels.
PAP announced that Phase 1 of Phuoc An Port has been operational since Q4/2024. Phase 2 is underway, with Phase 3 preparations to complete the berths by 2026. Phase 2 contracts total nearly VND 7,153 billion, requiring increased equity in 2025–2026 to ensure timely payments and reduce bank loan reliance.
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