A subsidiary of Kinh Bac City Development Holding Corporation has just received approval to expand 90 hectares of Quang Chau Industrial Park.

The project area is located in Quang Chau Commune, Viet Yen District, Bac Giang Province with investment capital of VND996 billion (US$42 million).

Quang Chau Industrial Park, invested by SBG, is one of the typical industrial parks of Bac Giang Province, which is planned to invest and develop according to the model of a modern architectural complex including an industrial park, urban area, utility and service area.

The expansion will increase the industrial park from 426 hectares to 516 hectares.

The existing industrial park of 426 hectares has been filled with 100 per cent industrial land, attracting 41 investment projects, including 37 FDI projects, four domestic investment projects with a total investment capital of up to $2.8 billion, creating jobs for about 67,000 workers.

Typical large-scale investment projects are from Foxconn (with projects of member companies such as Fuhong, Fuyu, Fukang), Luxshare-ICT, JA Solar, Siflex, Samkwang, Crystal Martin, Lens.

The expansion phase with an area of ​​more than 90 hectares, which has just been signed by the Prime Minister approving the investment policy for the project, has also attracted many large investors interested in surveying, registering to rent with high occupancy rate, reaching more than 90 per cent.

In particular, Foxconn Group, a large satellite of Apple Corporation, after surveying the site, signed a Memorandum of Understanding on subleasing land with SBG in August, confirming the sublease of 50.5 hectares to implement an investment project focusing mainly on manufacturing Apple products in the province with an investment capital of more than $300 million. — VNS