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Quang Chau IP attracts $500 million in new capital

Released at: 06:52, 16/09/2016

Quang Chau IP attracts $500 million in new capital

Bac Giang Portal

Bac Giang industrial park signs new contracts with investors from China and Hong Kong.

by Tue Lam

The Quang Chau Industrial Park in northern Bac Giang province has attracted $500 million of new investment capital from investors in China and Hong Kong.

According to the Kinh Bac City Development Corporation (KBC), the owner of Quang Chau, it signed two contracts for land rentals with investors from China and Hong Kong after its representatives accompanied Prime Minister Nguyen Xuan Phuc on his official visit to China and Hong Kong from September 10 to 15.

The first contract was signed with China’s JA Solar Holdings Co. to build a $300 million plant on an area of 40 ha producing solar cells.

The second was signed with Hong Kong’s Technology Company Luxshare - ICT, which will invest $100 million in a project manufacturing electronic components on a area of 14 ha.

JA Solar Holdings is a solar development company based in Shanghai that designs, develops, manufactures and sells solar cells and solar module products and is also engaged in the manufacturing and sale of monocrystalline and multicrystalline solar cells.

Luxshare - ICT is a manufacturing company investing heavily in R&D. Its primary business is cables and connectors for 3C (computers, communications and consumer electronics), automobiles, and the medical sector.

Quang Chau Industrial Park, with an area of 600 ha in Viet Yen district, boasts a favorable location, 33 km from Hanoi, 100 km from Huu Nghi Border Gate (in northern Lang Son province), and 33 km from Noi Bai International Airport. It is also close to the Hanoi - Quang Ninh and Ho Chi Minh City - Hanoi - Yunnan (China) railway lines.

According to KBC, as at the third quarter Quang Chau had leased nearly all land in the second phase and plans to expand with the aim of providing more land to investors in the time to come.

KBC invests, constructs, and trades in real estate in Vietnam. It develops residential areas, re-settlement areas, and industrial parks, and also leases or sells urban areas, hotels, and commercial centers, as well as plants and houses.

In the first eight months Bac Giang province attracted 121 investment projects with a total of $422 million of newly-registered and additional investment capital, ranking it 10th in FDI to Vietnam by province.

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