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Sembcorp Breaks Ground for New Sustainable Industrial Park Concept, VSIP Binh Duong III

March 19, 2022

Sembcorp Development, a wholly-owned subsidiary of Sembcorp Industries, held the groundbreaking ceremony for the third expansion of the Vietnam Singapore Industrial Park in Binh Duong Province of Vietnam, referred to as VSIP Binh Duong III. The ceremony was witnessed by Vietnam Prime Minister Pham Minh Chinh, signifying the continued support of the Vietnamese government for the well-established VSIP projects as a driver of industrial development in the country.

The project’s groundbreaking follows the recent presentation of the investment licence to Sembcorp during the Vietnamese President’s state visit to Singapore in February 2022. Sembcorp Development is a co-master developer of the VSIP projects, leading the Singapore consortium’s partnership with Vietnam’s Becamex IDC Corporation in a 51:49 joint venture respectively.

The 1,000-hectare VSIP Binh Duong III marks a new design concept that aligns with Sembcorp’s focus on growing its portfolio of sustainable urban developments. Envisioned to be the model of a smart and sustainable industrial park, VSIP Binh Duong III is designed to incorporate smart technology across the park’s operations, from its energy, water and waste use, to traffic and security management. The use of real-time tracking devices to remotely monitor, analyse and optimise performance, allows for enhanced visibility over operations - making the park more secure, reliable and efficient for customers and workers. The project’s 100-hectare first phase is also pre-qualified to meet Singapore Building and Control Authority’s Green Mark for industrial districts, making it one of the greenest and most sustainable workplace environments in Vietnam.

Another distinguishing feature of VSIP Binh Duong III is its 50-hectare onsite solar farm offering grid reliability and sustainability benefits to large industrial tenants. The park’s first customer to tap on the planned solar farm is Danish toymaker LEGO Group. At the groundbreaking ceremony, the Vietnam government presented LEGO Group with the investment licence for a production facility on a 44-hectare site which represents an investment of more than US$1 billion. LEGO Group intends to operate its first carbon-neutral factory which will be powered by renewable energy drawn from the solar farm installed by VSIP as well as solar panels installed onsite.

As part of the VSIP Binh Duong III masterplan, Sembcorp will also explore providing a wider range of sustainable solutions such as micro-grid-integrated solar and battery storage, wastewater recovery and electric vehicle charging infrastructure.

With the VSIP Binh Duong III groundbreaking as well as a recently incorporated joint venture company to develop Quang Tri Industrial Park, Sembcorp now has 11 large-scale urban developments strategically located across the southern, central and northern economic zones of Vietnam. The total gross land bank in Vietnam has increased to 9,733 hectares, ensuring a stable launch pipeline for land sales that will provide the platforms to leverage Sembcorp’s business synergies and drive future growth in sustainable solutions.

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For analysts’ and media queries, please contact:

Mary Ann CHAN (Ms)
Assistant Vice President
Strategic Communications
Sembcorp Development
Tel: +65 6723 3976
Email: [email protected]

LING Xin Jin (Ms)
Assistant Vice President
Group Investor Relations
Sembcorp Industries
Tel: +65 6723 3384
Email: [email protected]

(Company registration: 199802418D)

Sembcorp Industries (Sembcorp) is a leading energy and urban solutions provider, driven by its purpose to do good and play its part in building a sustainable future.

Headquartered in Singapore, Sembcorp leverages its sector expertise and global track record to deliver innovative solutions that support the energy transition and sustainable development. By focusing on growing its Renewables and Integrated Urban Solutions businesses, it aims to transform its portfolio towards a greener future and be a leading provider of sustainable solutions.

Sembcorp has a balanced energy portfolio of over 15GW, with more than 5.7GW of gross renewable energy capacity comprising solar, wind and energy storage globally. The company also has a proven track record of transforming raw land into sustainable urban developments, with a project portfolio spanning over 13,000 hectares across Asia.

Sembcorp is listed on the main board of the Singapore Exchange. It is a component stock of the Straits Times Index and sustainability indices including the FTSE4Good Index and the iEdge SG ESG indices. For more information, please visit www.sembcorp.com