A model of Becamex Binh Dinh Integrated Township and Industrial Park. — Photo binhdinh.gov.vn

Deputy Prime Minister Trinh Dinh Dung has approved in principle the development of Binh Dinh Becamex Industrial Zone (IZ) in the central province of Binh Dinh, according to the province.

Expected to cost more than VND3.33 trillion (US$143 million), the IZ will span 1,000ha in Canh Vinh Commune, Van Canh District. It will be developed by Becamex Binh Dinh JSC headquartered in the province's Quy Nhon City.

Of the project's total investment capital, some VND500 billion will come from the project’s investor, more than VND2 trillion from bank loans and the rest from other sources, online newspaper baochinhphu.vn.

The project must be executed within 10 years from the date its investment was approved.

The Deputy PM assigned the provincial government to manage site clearance and compensation and collect feedback from ministries and agencies during the execution of the project.

The zone will be built under a co-operation agreement on socio-economic development between Binh Dinh and Binh Duong provinces. It is expected to help Binh Dinh create a breakthrough in socio-economic development, the provincial website quoted the committee's vice chairman Nguyen Phi Long as saying.

The project is part of Becamex Binh Dinh Integrated Township and Industrial Park, which extends over 2,308 hectares.

The province has invested some VND1.5 trillion in developing infrastructure on the 13-kilometre-long Provincial Road 638 in the west to connect Becamex Binh Dinh Integrated Township and Industrial Park with Quy Nhon City, according to the portal. — VNS