Plans for a US$1.4 billion industrial park in Vietnam have been unveiled by THACO. The park will span an area of 700 hectares and was announced earlier this week by the chairman of the Board of Directors of THACO during a meeting held with the Prime Minister Pham Minh Chinh. Additionally, there were representatives of 26 leading state-owned and private enterprises present at the meeting in Hanoi. In 2022, THACO and Binh Duong People’s Committee signed an MoU that was supposed to implement the project. The company is the largest corporation in the country that specializes in mechanical engineering and supporting industries such as agricultural equipment, industrial equipment, and semi-trailers.
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Details on the THACO Industrial Park
The park is aimed at small and medium-sized enterprises especially however, it will be open to all partners. It has been established based on mutual support for common development of Binh Duong’s business communities. THACO Industries is the arm of the company that supports the mechanical sector. At themoment, it operates 19 manufacturing facilities and R&D and testing centres in the Chu Lai Economic Zone in the central province of Quang Nam.
Project Overview
Location: Hanoi, Vietnam
Project scope: 700 hectares
Developers: THACO Group
Project cost: US$1.4 billion
More on THACO Industries
During the meeting, the prime minister called on private enterprises to serve as pioneers in innovation, digital transformation, development and application of science and technology. Additionally, to contribute more to the implementation of the three strategic breakthroughs; infrastructure, institutions and workers. Earlier this month, Thaco also inaugurated a series of major projects. These include further expanding its industrial ecosystem in the central province of Quang Nam. Furthermore, the company launched a new 50,000-DWT berth at Chu Lai International Port. The berth is intended to expand the total length of the port by 365 meters to 836 meters. It is designed to accommodate general cargo and container ships with capacities of up to 50,000 DWT, addressing the region’s growing export demand.
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