New $100mln project set for Thai Binh IP

The Green i-Park Joint Stock Company and the HiteJinro Group, the largest beverage producer in South Korea, have signed an MoU on leasing land and infrastructure at the Lien Ha Thai Industrial Park in northern Thai Binh province with total investment of $100 million.

The signing ceremony was the result of a thorough exploration of the investment environment in Thai Binh and the industrial park (IP), which is invested in by the Green i-Park Joint Stock Company. The HiteJinro Group has decided to invest in the construction of a beverage production plant with total investment of an expected $100 million on an area of 8.2 ha.

Representing the Board of Directors, Mr. Bui The Long, General Director of Green i-Park, warmly welcomed the HiteJinro delegation and affirmed that Green i-Park will accompany HiteJinro to quickly obtain an investment license.

Speaking at the ceremony, Mr. Kim In Kyu, CEO of HiteJinro, expressed his gratitude for the warm reception from the leaders of Thai Binh province and Green i-Park in facilitating HiteJinro’s lease of land for the construction of an alcoholic beverage production plant. This will be its first alcoholic beverage production plant overseas and a stepping stone in its foray into the Southeast Asian market.

With existing scientific and technical potential as well as capabilities, HiteJinro’s leadership is confident in its ability to contribute alongside Green i-Park’s infrastructure construction to transform Lien Ha Thai into an environmentally-friendly IP with cutting-edge technology, contributing to the province’s sustainable economic development.

The Group’s investment in production and business at Green i-Park will also contribute significant value to Thai Binh’s annual budget through income and special consumption taxes.

Chairman of the Thai Binh Provincial People’s Committee Nguyen Khac Than expressed his joy that the province’s previous plans, from visiting HiteJinro’s production facility two years ago, have now become a reality. He added that, currently, 25 South Korean businesses have invested in Thai Binh, but most are small in scale. This one project of HiteJinro is equal to the combined scale of those 25 enterprises.

The HiteJinro Group’s selection of Lien Ha Thai as the location for this major investment project once again affirms it as a strategic area for leading global investors to cooperate in investment and development. With this project, Green i-Park has made a significant contribution to local socio-economic development, laying the groundwork for attracting major investment projects to Thai Binh.

The Lien Ha Thai Industrial Park is planned within the Thai Binh Economic Zone, located in Thuy Lien commune and Diem Dien town in Thai Thuy district, Thai Binh province, with a total land area of 588.84 ha.

This is the first IP in the Thai Binh Economic Zone and is a comprehensive multi-sector facility. It has attracted many foreign investors with projects having already gone into operation, such as the Lotes Company (Taiwan (China)), the Ohsung Vina Company, the Jin Yang Company (South Korea), and two projects expected to start production later this year, from the Greenwork Company (the US) and the Nam Tai Company (Singapore).