Exclusive: AMATA VN to invest $200m in Vietnam’s industrial park

Somhatai Panichewa, CEO of Amata VN.

Amata VN Pcl, a subsidiary of Thailand’s industrial estate developer Amata Corporation, has set aside $200 million to develop its second project, Amata City Long Thanh, during 2016-18.

Thanks to its strategic location near Ho Chi Minh City, the company says it can make this project a small community on around 3,200 acres of land. Of the total  land, 40 per cent will be an industrial estate and 60 per cent will be accommodations and other commercial buildings.

“We will start developing the industrial part first. For accommodations, we will start it once the [Vietnamese] government constructs the express way, scheduled to start by 2019, by then the value of this project and the land will rise sharply,” chief executive officer Somhatai Panichewa told DEALSTREETASIA.

The overall budget for this project is estimated to be around $800 million, she added.

AMATA VN, one of top three foreign-owned industrial estate developers in Vietnam, had invested in its first project – Amata City Bien Hoa – about 22 years ago. So far, it has injected around $800 million into the development there.

This year, it is developing the third phase of Bien Hoa to serve the demand from Japanese and Korean high-technology industrial firms. Panichewa further added the company has signed contracts to sell around 20 per cent of the third phase which is expected to transfer to the clients next year.

Vietnam is one of the fastest growing markets in Southeast Asia with foreign direct investments of $4 billion in the first quarter, rising to $5 billion in April. However, the chief executive of Amata said that the gross domestic products might be a bit slowdown due to the drought this year.

Currently, it is applying for another licence to set up another industrial park in the north of Vietnam, which will comprise both an industrial park and accommodations like Long Thanh, but the size will be larger on a strategic location near a deep sea port.

Also read:

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Better World Green, IEAT JV to invest 84.5m for building Thailand’s first waste-to-energy industrial estates

Thailand’s PTTGC to set up $143m JV for bio-plastic industrial estate

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.