In February 2024, the Provincial People’s Committee issued a decision on the 1/2000 construction planning subdivision, which anticipated that the industrial park would attract 25,000 workers. The factory and enterprise zone has a total area of 316.1 hectares, accounting for 68% of the area planned for the industrial park.

The project’s investment capital was approved by the Prime Minister in April 2022, totaling more than VND 5,198 billion, including nearly VND 780 billion in investor contributions, and the remainder being mobilized capital. According to the feasibility study report, the total investment is nearly VND 6,232 billion, of which the investor contributes nearly VND 935 billion.

As per the Prime Minister’s decision, the project is scheduled to be implemented from the second quarter of 2023 to the second quarter of 2025.

Perspective of Loc Giang Industrial Park. Source: EIA Report

To execute the project, 147 households had to be relocated, and they were resettled in the 9.5-hectare Resettlement Area for the Loc Giang Industrial Park, constructed adjacent to the industrial park. The resettlement area’s detailed construction planning assignment at a 1/500 scale was approved by the Provincial People’s Committee in August this year. The EIA Report, published in November, revealed that compensation for land acquisition had been completed for an area of over 410 hectares, and compensation for the remaining area is ongoing.

Perspective of the office building in the industrial park

Sai Gon Tay Bac Urban Development Joint Stock Company (SCD) was established in 2003, headquartered in Cu Chi District, Ho Chi Minh City, with Mr. Dang Thanh Tam as Chairman of the Board of Directors and legal representative. As of the end of 2023, SCD’s total assets reached VND 3,143 billion, and its charter capital was VND 750 billion. It is a subsidiary of Kinh Bac City Development Holding Corporation – JSC (HOSE: KBC), which owns 74.3% of SCD. On October 10, SCD significantly increased its capital to VND 1,181 billion to meet the required contribution of the investor in the Loc Giang Industrial Park project.

Apart from the Loc Giang Industrial Park, SCD is also the investor of the Tan Phu Trung Industrial Park in Ho Chi Minh City, spanning 542 hectares; the Tan Phu Trung Residential Area with a scale of 47.3 hectares; and the Long An Resettlement Area. SCD has a subsidiary, Tan Phu Trung Long An Industrial Park One-Member Limited Liability Company, which is the investor of the Phuoc Vinh Dong 4 – Long An Industrial Cluster and Resettlement Area.

 

Source: Author’s compilation. Unit: Billion VND

Thu Minh

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