News

- Fifth Vietnam Singapore Industrial Park gets the approval to proceed with investment certificate awarded
- In-principle approval granted by Vietnam’s Quang Ngai province to develop a 1,200-megawatt power plant
- Witnessed by Their Excellencies, Singapore President Tony Tan Keng Yam and Vietnam President Truong Tan Sang

Sembcorp Industries (Sembcorp) is pleased to announce that the Group has made good progress in its integrated urban development and power projects in central Vietnam.

In a ceremony today witnessed by Their Excellencies, Singapore President Tony Tan Keng Yam and Vietnam President Truong Tan Sang, Sembcorp’s Vietnam Singapore Industrial Park (VSIP) joint venture was awarded the investment certificate by the People’s Committee of Quang Ngai Province (Quang Ngai PC) for its fifth VSIP project. The joint venture will invest a total of US$337.82 million in VSIP Quang Ngai. The estimated total equity of US$40 million will be funded through the joint venture’s internally generated funds. VSIP Quang Ngai will comprise a 600-hectare industrial park located within the Dung Quat Economic Zone as well as a 520-hectare site zoned for commercial and residential development near downtown Quang Ngai city. To kick-start the project, the joint venture will focus on a start-up area of 160 hectares for the industrial park and 100 hectares for commercial and residential development. In addition to Quang Ngai province’s strategic location, manufacturers located in the VSIP Quang Ngai will also be offered government-supported special economic zone incentives.

VSIP is a joint venture between Vietnam’s Becamex IDC Corporation with 49% shareholding and a Singapore consortium holding 51% share. Sembcorp Development, a wholly-owned subsidiary of Sembcorp Industries, holds 79.29% share in the Singapore consortium. The joint venture currently has two projects located in the southern economic zone of Binh Duong province, and two projects located in the northern economic zone’s Bac Ninh province and Hai Phong city.

At the same ceremony, Sembcorp’s wholly-owned subsidiary, Sembcorp Utilities, was granted an in-principle approval from Quang Ngai PC to develop a 1,200-megawatt power plant, to be located in Dung Quat Economic Zone in Quang Ngai province. Sembcorp is currently assessing the feasibility of this project, for which the Group had in January 2012 signed a memorandum of understanding with Quang Ngai PC to explore.

The investment certificate for VSIP Quang Ngai and the in-principle approval for the development of the power plant were presented to Low Sin Leng, Executive Chairman of Sembcorp Development and Deputy Chairman of Sembcorp Utilities, at the ceremony held at Hanoi’s Presidential Palace. The ceremony was held in conjunction with Singapore President Tony Tan’s first presidential visit to Vietnam.

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For media and analysts’ queries, please contact:

Melissa Yee (Ms)
Manager
Group Corporate Relations
DID: +65 6723 3326
Email: [email protected]

Aleve Co (Ms)
Manager
Group Corporate Relations
DID: +65 6723 3178
Email: [email protected]

Mary Ann Chan (Ms)
Senior Manager
Corporate Relations
Sembcorp Parks Management 
DID: +65 6723 3976
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ABOUT SEMBCORP INDUSTRIES

Sembcorp Industries is a leading energy, water and marine group operating across six continents worldwide. With facilities with 5,600 megawatts of gross power capacity and over seven million cubic metres of water per day in operation and under development, Sembcorp is a trusted provider of essential energy and water solutions to both industrial and municipal customers. It is also a world leader in marine and offshore engineering as well as an established brand name in integrated urban development.

The Group has total assets of over S$11 billion and employs over 9,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index, several MSCI and FTSE indices as well as the Dow Jones Sustainability Asia Pacific Index.

Note to Editors: 
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