The Civil Engineering Construction Corporation No. 4 (Cienco4) has signed a partnership deal with Thailand’s Hemaraj Land and Development Plc. to co-invest in the Hemaraj Industrial Urban Complex at the Dong Nam Economic Zone in north-central Nghe An province.
“The province will create the most favourable conditions possible in investment procedures and site clearance for the two investors to quickly begin the project,” Le Duc Cuong, Chief of the Nghe An People’s Committee Secretariat, told VET on October 7. “The investors will build the complex in multiple phases so site clearance will not be a major issue.”
The project covers 3,200 ha straddling Nghi Loc and Dien Chau districts with total capital of about $1 billion. The first of seven phases is expected to begin in 2017 and all construction completed by 2035, according to Cuong.
“The goal of the project is to build a comprehensive network of industrial parks, logistics bases, and urban areas in order to attract secondary investors to invest in factories and production and business areas,” Nguyen Tuan Huynh, Chair of Cienco4, was quoted as saying.
A joint venture, called the Hemaraj – Cienco4 JSC, will be established to conduct the first phase of the complex on nearly 500 ha at the Nam Cam Industrial Zone in Nghi Loc district from the beginning of 2017 to 2021, Huynh said.
Cienco4 is a major player in the field of investment and construction of transport infrastructure and marks a new step in its development process with its association with Hemaraj.
According to David Richard Nardone, Chair of Hamaraj, the company is a leader in infrastructure development at industrial zones, urban areas, and factories in Thailand.
It currently owns and develops eight industrial zones of international standard on a total area of 7,000 ha that house 600 companies from around the world, including major names in logistics, automobile manufacturing, energy, and other fields.
“With our capacity and experience in investment and construction and doing business in industrial zone infrastructure in Thailand and Cienco4′s financial capacity we hope to build the Hemaraj Industrial Zone into a model industrial zone in Nghe An,” Nardone said.
Under the investment agreement, the Nghe An Provincial People’s Committee will be responsible for organising site clearance, compensation, and resettlement for the entire project area. The Hemaraj – Cienco4 JSC will pay site clearance and compensation costs while the province will pay for relocation.
Nghe An committed to providing incentives and investment support to the project and guaranteed that the sites for each phase will be connected to highways, for convenient access for investors and contractors.
The two investors have pledged to develop the industrial urban area in line with Nghe An’s development orientation and attract secondary investors to produce world-class products while protecting the environment and bringing economic efficiency towards sustainable development.
Source: http://vneconomictimes.com/
Key words: Cienco4, Thai, investor partner up in, industrial, urban complex.
