On 30th August 2022, in Binh Thuan Province, Vietnam, Son My Industrial Park Investment Construction And Trading Infrastructure Limited Company (abbreviation: IPICO) held the ground-breaking ceremony for its notable project, Son My I Industrial Park.
Prime Minister Pham Minh Chinh, Vice-President Vo Thi Anh Xuan, Vice-Chairman of the National Assembly Tran Quang Phuong, and other representatives of the government, as well as local departments and agencies, attended the ground-breaking ceremony.
Son My I Industrial Park is invested in and developed by IPICO and occupies a total area of 1,070 hectares. Boasting a prime location and world-class infrastructure, Son My I Industrial Park is a key project for Binh Thuan Province and Vietnam and is expected to be a magnet for future investment.
Son My I Industrial Park is zoned according to 4 land use functions, namely, land for factories, service center areas, technical infrastructure areas, and green land & water areas. The park’s two LNG power plants, Son My 1 and Son My 2, are a key highlight, with a total capacity of 4,500MW, covering an area of 200 hectares. The park will also include a 100-hectare LNG warehouse port and 430 hectares for supporting industries. Son My I Industrial Park will also have a subdivision specializing in the production of auxiliary equipment for the development of green energy industries. Additionally, over 30% of the total land area will be set aside for technical infrastructure, utility constructions, industrial service zones, as well as key amenities for park workers such as educational, training, medical, healthcare, and office facilities.
At the ceremony, Prime Minister Pham Minh Chinh instructed relevant departments and central agencies to coordinate and strengthen efforts to support Binh Thuan Province, as well as promptly resolve difficulties and bottlenecks, to maximize Binh Thuan’s potential and harness its advantages, creating favorable conditions to optimize the progress of the Son My I Industrial Park project.
A pioneer in emphasizing sustainability throughout its development journey, Son My I Industrial Park has actively supported Vietnam’s COP26 commitments through careful policies and practices. In particular, Son My I Industrial Park prioritizes high-tech and clean industries which reduce carbon and GHG (Greenhouse Gas) emissions and seeks to lessen its reliance on fossil fuels by using green and renewable energy sources such as wind, solar, and LNG.
Son My I Industrial Park has already attracted leading global investors such as PetroVietnam Gas JSC (a unit of state-run Vietnam Oil and Gas Group), AES Group (one of the world’s top energy companies from the USA), and a Consortium of Électricité De France S.A. (France), Sojitz Corporation (Japan), Pacific Corporation JSC, Kyushu Electric Power Co. Inc. (Japan).
Son My I Industrial Park is targeting to complete the construction of the park’s entire infrastructure by 2025. Son My I Industrial Park promises to become the center of economic development for Binh Thuan as well as neighboring areas. Son My I Industrial Park is also expected to create job opportunities for thousands of workers, improving the quality of life for local communities as well as setting the stage for Binh Thuan’s favorable growth trajectory.