Amata gets nod for huge urban area

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SaigonTimes English - 32 month(s) ago 12 readings

HCMC – Amata (Vietnam) Joint Stock Co. has gained approval from the Government to develop an industrial and urban area worth US$20 billion in Dong Nai Province, the company’s CEO said.

Amata gets nod for huge urban area

By Van Nam - The Saigon Times Daily

HCMC – Amata (Vietnam) Joint Stock Co. has gained approval from the Government to develop an industrial and urban area worth US$20 billion in Dong Nai Province, the company’s CEO said.

Huynh Ngoc Phien, general director of Amata (Vietnam), confirmed the news with the Daily on Tuesday after international news agencies had reported on the second project of Amata Corporation PCL related to the industrial-urban complex in Dong Nai.

However, to develop this huge Amata Express City project, Amata will invite secondary investors to join forces to develop the city adjacent to the planned Long Thanh International Airport.

Amata Express City will be developed on a 1,300-hectare site next to the expressway that leads to Long Thanh Airport and is under construction. The project consists of three components, namely a riverside urban and services area covering 760 hectares, a 420-hectare high-tech industrial park, and an urban area of 105 hectares in Long Thanh Town.

“The capital required for infrastructure development is some US$500 million, and the total capital for the city is around US$20 billion,” said Phien.

Amata (Vietnam) will take charge of making the planning scheme, building supporting utilities, marketing the project, and then attracting investment from others.

The project design was completed on Monday, he added. At present, Amata is trying to finalize procedures in Dong Nai to commence the project in early 2013.

It will take seven years to finish the high-tech industrial park, while the two urban areas will take shape over a period of 15 years.

Amata Express City has been registered as the key project of Dong Nai Province. The project owner plans to introduce the project next week after working with Dong Nai’s leaders.

At the conference to announce the zoning plan for Long Thanh International Airport in August last year, the government of Dong Nai informed some 21,000 hectares surrounding the airport project would be used for developing urban areas and supporting facilities for the airport. Long Thanh International Airport will become the nation’s biggest and one of the regional hubs for international airlines when in place.

The airport will cover 5,000 hectares. The project is planned to get off the ground in 2015 and start operation in 2020.

Amata (Vietnam) is a joint venture between the Corporation for the Development of Bien Hoa Industrial Zone (Sonadezi) and Thailand’s Amata Corporation Public Company Ltd. The venture was established in 1994 to develop Amata Industrial Park in Bien Hoa City, Dong Nai Province with total investment capital of US$1.8 billion.

To date, there have been 125 enterprises operating in Amata Industrial Park and occupying up to 99% of the land for lease there.

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