Sembcorp to co-establish 5 industrial parks in Vietnam for $1.3b

The company will set up the industrial parks with Becamex IDC Corporation.

Sembcorp Industries inked a memorandum of understanding with Becamex IDC Corporation to co-establish five Vietnam Singapore Industrial Parks (VSIPs) in Vietnam valued at approximately $1.3b (US$1b).

The industrial parks will be built with rooftop solar systems and solar farms where feasible.

“The VSIPs are envisioned to be smart and sustainable industrial parks with low carbon footprint,” Sembcorp said in a bourse filing.

“Real-time tracking devices will remotely monitor and manage energy, water and waste use, as well as traffic and security, to allow for enhanced visibility over operations,” the company added.

Apart from the development of the 5 VSIPs, Sembcorp and Becamex also received an investment licence from the Vietnam government to develop a 500-hectare VSIP in Nghe An province (park II). 

The licence is an expansion of the 750-hectare VSIP Nghe An (park I) established in 2015.