Chan Hung Industrial Park to be built in two phases between now and 2019.
The FLC Group has recently been granted an investment certificate to build infrastructure at the 129.75-ha Chan Hung Industrial Park (IP) in northern Vinh Phuc province’s Vinh Tuong district.
With investment of VND1.3 trillion ($63.1 million) the project will be divided into two construction phases. In the first phase construction on 51.5 hectares will take place from now until 2016 and 78.19 hectares in the second phase will be developed from 2016 to 2019.
FLC’s investment aims to create an IP with comprehensive infrastructure to attract local and foreign tenants and investors as it has conducted investment research on the IP since last August.
The Chan Hung IP is also listed in Vietnam’s IP development planning for 2015 with orientation to 2020, approved by Prime Minister Nguyen Tan Dung. Under the province’s plan the IP is expected to attract businesses in environmentally-friendly sectors such as mechanical manufacturing, engine production, and steel structures, among others.
Developing Chan Hung IP is the second FLC investment in IPs in Vinh Phuc, following on from the VND2.3 trillion ($106 million) investment in the B-area at the Tam Duong II IP in Tam Duong district in March last year.
FLC is a notable developer in the real estate market with large-scale projects in Hanoi, northern Thanh Hoa province, and south-central Binh Dinh province.