Hai Phong city in northern Vietnam has announced a master plan for the Dinh Vu Industrial Zone, paving the way for the project’s US$70 million second phase of development on 318 hectares running over three-years.
It will house heavy and light industries, chemical and petrochemical manufacturers, warehouses and, firms offering port services. Following the finalisation of the plan, IP authorities expect to attract investment worth US$220 million this year.
Dinh Vu’s phase one, which started in 1997 on a 164ha site, attracted US$130 million from both local and foreign investors.
It houses plants belonging to PetroVietnam Gas, the French Proconco Animal Feeds, China’s New Hope Animal Feeds, and US lubricants manufacturer Chevron, besides Petrolimex’s LPG storage depot.
It is fully occupied.
Dinh Vu, some 100 kilometres from Hanoi, is only 3 kilometres from the Hai Phong city airport which is soon set to become an international airport.
The IP developed by the Dinh Vu Development Company, a joint venture between Hai Phong Transport Engineering Co (HP Transenco) and a consortium of foreign companies.
The latter consists of the American International Group Inc., Belgium’s International Port Engineering & Management NV, and Thailand’s Asian Infrastructure Development Co.