On September 17, 2024, IDICO Investment Construction Oil and Natural Gas Joint Stock Company (IDICO-CONAC), a subsidiary of IDICO Corporation, was granted investment approval for the project to build and operate the infrastructure of IDICO My Xuan B1 Expansion Industrial Park according to Decision No. 996/QD-TTg by the Prime Minister.
The project approval is an important step in IDICO's development strategy in the industrial real estate sector. In 2024, IDICO received approval for two major projects: IDICO Tan Phuoc 1 Industrial Park on May 31, 2024, and IDICO My Xuan B1 Expansion Industrial Park on September 17, 2024.
IDICO-CONAC operates in the field of industrial park management and development and is currently managing the IDICO My Xuan B1 Industrial Park, which is now 100% occupied. In response to the increasing investment demand and the wave of production facility relocation from China, IDICO-CONAC has proposed the expansion of the IDICO My Xuan B1 Industrial Park in My Xuan Ward, Phu My Town, Ba Ria - Vung Tau Province, covering an area of 110 hectares with a total investment of nearly 2 trillion VND, of which the investor's contribution is 386.2 billion VND.
The implementation of two new Industrial Park projects has added 580 hectares of industrial land in 2024, bringing IDICO's total land area to nearly 4,000 hectares, across 12 Industrial Parks throughout Vietnam. Along with IDICO Tan Phuoc 1 Industrial Park in Tien Giang (470 hectares), IDICO and its subsidiaries are actively completing compensation procedures and investing in infrastructure for IDICO My Xuan B1 Expansion Industrial Park, taking advantage of favorable geological conditions and synchronized infrastructure to develop high-quality Industrial Parks; simultaneously, they are refining their management apparatus to provide comprehensive support services for investors when they commence operations.
With the ability to attract major investors such as Heineken, Hyosung, Nippon Glass, Posco, and Suntory Pepsico, IDICO is confident that it will continue to welcome high-quality projects into its industrial parks nationwide. This not only affirms IDICO's strong position in the Industrial real estate market but also demonstrates a strong commitment to developing new Industrial Parks to attract more investors and contribute positively to the economic development of localities.
IDICO My Xuan B1 Expansion Industrial Park marks a milestone in strategy for investment and development in the industrial infrastructure sector. IDICO is committed to continuing the extension and development of the new Industrial Parks in the future, to meet the growing demands of investors.
In the upcoming period, IDICO aims for sustainable development, continuously improving operational efficiency; focusing on environmental protection and green development, optimizing energy through the construction of wastewater treatment plants in its industrial parks with modern technological processes, ensuring that the quality of wastewater discharged into the environment meets the current column A standards. IDICO has been and is implementing rooftop solar energy systems on ready-built factory projects, while also encouraging businesses in Industrial Parks to adopt this solution to help reduce emissions, aiming for the Net Zero target by 2050.
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