Tycoon Dang Thanh Tam wants to invest in a 380ha industrial park in Hau Giang

Kinh Bac Urban Development Corporation - JSC (stock code: KBC) with Mr. Dang Thanh Tam as Chairman of the Board of Directors has a resolution approving the decision to invest and implement the Song Hau 2 industrial park project, with an area of about 380 hectares in Chau Thanh district, Hau Giang province.

The total investment of the project is nearly 5,570 billion VND, including nearly 3,442 billion VND for technical infrastructure investment and more than 2,128 billion VND for site clearance compensation. The project will be invested by the company with 15% of capital from equity, the remaining 85% from loans.

The procedure for investment approval is expected to take place from October to December this year. The project duration is 50 years from the date of land allocation and lease.

Đại gia Đặng Thành Tâm muốn đầu tư khu công nghiệp 380ha ở Hậu Giang - 1 — Mr. Dang Thanh Tam's company wants to invest in an industrial park in Hau Giang.

According to the roadmap, if the investment policy is approved, the company will take 9 months to measure, survey, prepare and approve the compensation plan for site clearance and resettlement. The project can be constructed with infrastructure and technical infrastructure works from July 2025 to December 2026 and put into operation, leasing land and factories from June 2026.

According to the consolidated financial report for the third quarter of 2023, as of September 30, the company recorded nearly VND 12,258 billion in inventory, accounting for more than 36% of total assets. The inventory is mostly industrial parks under development.

Of which, the largest inventory value at Trang Cat Industrial Park and Urban Area project recorded more than 8,098 billion VND. Tan Phu Trung Industrial and Residential Park inventory was nearly 1,139 billion VND; Phuc Ninh Urban Area project was more than 1,113 billion VND; Nam Son - Hap Linh Industrial Park project was nearly 618 billion VND; Nenh Town Social Housing Project was more than 610 billion VND and other projects.

Kinh Bac announced that in the third quarter, its profit reached nearly 19 billion VND, down 99% over the same period last year because during the period, the company had not yet handed over land to customers in Nam Son - Hap Linh, Quang Chau and Tan Phu Trung industrial parks with a total area of 50 hectares, the total value of signed contracts was 1,700 billion VND and is expected to be handed over in the fourth quarter of 2023.

In the first 9 months, the company's profit after tax was 2,087 billion VND, a slight increase over the same period last year, achieving 52% of the yearly plan.

According to the decision of Hau Giang Provincial People's Committee, Song Hau 2 Industrial Park is located in Mai Dam town and Phu Huu commune, Chau Thanh district, Hau Giang province.

The Northeast borders Hau River, Song Hau 2 Thermal Power Plant and part of National Highway 91B (South of Hau River), the Southeast borders Nga Bat Canal, Provincial Road 925, the Northwest borders Phu Huu A Industrial Cluster - Phase 3 and Cai Dau River, the Southwest borders agricultural land.

Source