IDICO Starts Construction on US$191-Mln Industrial Park
Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) kicked off construction on Phu My II Industrial Park (IP) worth VND3.25 trillion (US$191 million) in southern Vietnam.
The IP is located on a site of 1,023 hectares in Tan Thanh district, Ba Ria-Vung Tau province.
Currently, several investors have signed memorandums of understanding with IDICO to lease 220 hectares of land.
South Korea’s Posco Group will rent 130 hectares to carry out a hot and cool rolled steel capitalized at US$1.12 billion project in the park.
Taiwan-based Fuco Company will build a 30-hectare steel plant worth US$180 million in the IP and Vietnam’s Lotus Joint Stock Company plans a US$30-million construction material project covering 30 hectares here. (Investment)
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