Sumitomo to Invest US$281.2 Mln in Central Vietnam's Industrial, Service Complex

Japan’s Sumitomo Corporation has received approval from the People’s Committee of central Binh Thuan province to build an industrial and service complex at total cost of at least VND4.5 trillion (US$281.2 million), the largest of its kind in the locality, local Youth newspaper said.

 

The Japanese firm will join hands with the Urban and Industrial Zones Development Investment Corporation (IDICO) under the Vietnamese Ministry of Construction to carry out the work on an area of 2,600-hectare industrial park, a 200-hectare power plant and a 1,000-hectare urban area.

 

The complex will be located in Son My commune, Ham Tan district, about 50 kilometers far from Phan Thiet city.

 

Sumitomo has invested into several projects in Vietnam, including the Thang Long Industrial Park in Hanoi, an electronic component factory in central Danang city and an electric wire factory in northern Hai Duong province.

 

The company has recently received a license to produce electric cables for automobiles in Dai An Industrial Park, Hai Duong. It will invest US$23 million in the project, its second plant in Hai Duong. (Youth, Binh Thuan’s Website)