$1-billion Hermaraj IP may open ahead of schedule

The construction of WHA Hermaraj IP invested by WHA Group from Thailand is expected to be started by the end of this month, instead of the late October in the initial plan, thanks to preferential policies as well as great support from provincial authorities.

Aerial view of  the development site of WHA Hermaraj IP

Covering a total estimated area of 3,200 hectares, the $1-billion project’s construction will take place in seven stages with 500 hectares each.

“Local authorities committed to provide favourable conditions to the investor during the construction process so that the Hermaraj IP can welcome its first projects in early 2018,” Le Ngoc Hoa, Deputy Chairman of the Nghe An Provincial People’s Committee.

“WHA Group is one of more than 60 Thai firms that visited Nghe An in August to seek investment opportunities. According to the initial plan, the investor was to kick off the construction at the end of October, however, the province has been supporting them to complete the necessary procedures to start even sooner, as soon as by the end of this month,” Hoa added.

Hermaraj Industrial Park is one of the outstanding examples of projects where construction was pushed forward thanks to the provincial authorities’ support. Earlier in September 2015, a joint venture between Sembcorp from Singapore and Becamex IDC held the ground-breaking ceremony of Vietnam-Singapore Industrial Park (VSIP), covering an area of 750 hectares.

To date, the investor has completed the construction of synchronous infrastructure for 1A phase with an area of 100ha.

“Over 90 investors from numerous countries and territories have visited the VSIP to explore investment opportunities and a dozen of them committed to pour about VND400 billion ($17.6 million) into the park. As of early September, some firms received land and started the construction of their own plants in the park,” said Nguyen Chi Toan, a VSIP representative.

In order to prove the above commitment, Hoa mentioned Australian company Mavin’s project. Notably, Mavin had plans to organise the inauguration ceremony for Mavin Austfeed Nghe An livestock feed factory in February 2017.

The preparation time for the event coincided with the Lunar New Year holiday, however, on the fourth day of the Lunar New Year, representatives of the provincial authorities arranged time to solve the investor’s remaining problems so that the inauguration ceremony could be held on time.

David John Whitehead, chairman of Mavin, said that the group built factories in seven provinces and has warehouses in 19 cities and provinces across the country. However, Nghe An is the only province which now has four projects with the total investment capital of around $80 million, showing Mavin’s satisfaction with the province’s policies to lure in investment capital.

“Investing in Nghe An is a good choice for investors because the province does not only have an ideal geological location, but it also has synchronised infrastructure system, good human resources, and good policies for investors,” Whitehead added.

Furthermore, Hoa added that foreign investors, who want to complete procedures to be granted investment certificates just need to work with the Nghe An Centre for Investment Promotion and Development Consultancy through one-stop policy.

Source: VIR

Leave a Reply

Your email address will not be published. Required fields are marked *