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Thai Amata VN granted licence for $23 mln land project in Vietnam

Thai Amata VN granted licence for $23 mln land project in Vietnam

Thursday, April 07, 2016, 20:55 GMT+7

Thailand's industrial park developer Amata VN Pcl said on Thursday it had been granted a new licence by Vietnam's government to develop land for a $23 million residential and commercial project at Long Thanh, near Ho Chi Minh City.

The "Amata Service City Long Thanh 1" project will cover area of 55.4 hectares, or around 53 percent of the total land plot for which the company submitted licences in the southern province of Dong Nai, the Thai firm said in a statement.

The construction of the project including warehouses and a logistics facility is expected to start in 2018 and completed in 2019, when the land will be ready to serve both domestic and foreign investors, the statement said.

The company is developing its Amata City Long Thanh, a high technology industrial park project on 410 hectares of land for which it received a licence in 2015 and is expected to be ready for investors in 2017.

Amata VN also applied for another two licences to develop two projects with a combined area of 801 hectares and is expected to receive the licences in the third quarter, it said.

Amata VN, one of top three foreign-owned industrial park developers in Vietnam, has run Amata City Bien Hoa since 1994.

Reuters

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