» » Ascendas – Protrade Singapore Industrial Zone

The company Ascendas, which develops, manages and markets industrial parks, has announced its partnership with the Binh Duong Province-owned Protrade Corporation to develop a 500 ha industrial park in the province.

The launch of the Ascendas-Protrade Singapore Tech Park will be organised on December 15 with the presence of Deputy Prime Minister Hoang Trung Hai, Singapore’s Senior Minister Goh Chok Tong and provincial officials.

Investment in the IP requires 100 million USD (excluding the subsequent development of built-up space), with the Singaporean partner representing 70 percent and the local partner, 30 percent.

Construction for the first phase covering 150ha will begin early 2008 and completion is expected by the year’s end, providing 184 land lots for tenants.

Thanks to the number of multinational companies who are Ascendas tenants in other countries, the lots are expected to be leased by completion, according to the Ascendas CEO for South East Asia Operations.

The entire 500-ha project is planned to be put in use in three years, which will enable a working community of around 40,000 people.

The park targets light and clean industries including precision engineering, electronics, health care and pharmaceuticals, and logistics.

Tran Quang Lan, vice president of Protrade, said the AP Singapore Tech park is an important component of a larger project, the An Tay Industry and Service Complex that covers 1,350ha.

It is a township project which will comprise residential and recreational facilities as well.

Ascendas has its presence in markets including Singapore, China, India and the Republic of Korea. It has a minor stake in the Viet Nam-Singapore Industrial Park.

Protrade operates in areas including wood processing, rubber plantations, health care and real estate.

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