The groundbreaking ceremony of Tuy Phong Industrial Zone.— Photo baodautu.vn

HA NOI (Biz Hub) — The construction of the Tuy Phong Industrial Zone was kicked off in the central province of Binh Thuan on April 12.

The zone, spread over 150 hectares in the Vinh Hao Commune, Tuy Phong District, has been funded by the Tan Dai Tien Company at a cost of 370 billion, or US$17.6 billion.

It aims to have facilities for salt production, chemical production and logistics industries for the local farming, forest and seafood sectors.

According to the investor, the industrial zone is located next to the National Highway 1A, the Vinh Hao railway station and the Vinh Tan port which is expected to become operational in late 2014. The zone is also 100 kilometres from the Cam Ranh Airport in the neighbouring province. The zone will also be benefit from the lower land rent and labour cost in the area.

The industrial zone's investor plans to complete the project by 2017. — VNS