Sembcorp obtains investment licence to develop industrial park in Vietnam

SEMBCORP Industries has, through its wholly-owned subsidiary Sembcorp Development, obtained an investment licence to develop a new industrial park in Can Tho City, it said in a bourse filing on Monday (Oct 17).

Can Tho City is located in the Mekong Delta region of Vietnam. Its central government recently announced a new master plan outlining Can Tho as a centre for trade and services in the region by 2023, along with infrastructure investments.

Vietnam Singapore Industrial Park (VSIP) Group will operate the 293.7-hectare industrial park. Sembcorp and its long-time partner Becamex IDC Corporation are the joint master developers of the VSIP projects.

Sembcorp, through the VSIP Group, has a portfolio of 11 large-scale developments across eight provinces in Vietnam, said Kelvin Teo, Sembcorp Development chief executive and co-chairman of VSIP Group. 

Sembcorp Industries does not expect the development of the new industrial park project to have any material impact on its earnings per share and net asset value for the financial year ending Dec 31, 2022.

Sembcorp shares were trading 1.7 per cent or S$0.05 lower at S$2.88 as at 1.54 pm on Monday.