By
Tri Duc
Mon, October 21, 2024 | 4:15 pm GMT+7
BW Industrial Development JSC, a joint venture between American private equity giant Warburg Pincus and Vietnamese leading industrial developer Becamex, has kicked off the construction of BW Tan Hiep Logistics Park in Dong Nai province.
The project in southern Vietnam is the 10th logistics project of BW in Vietnam this year, per its plan of kicking off 12 new project this year. The 64-hectare project will cover 9.5 hectares in the first phase.
BW Industrial Development holds a groundbreaking ceremony in Dong Nai province, southern Vietnam, October 18, 2024. Photo courtesy of the government’s news portal.
In a Monday statement, BW said the project is the only one within five kilometers of the under-construction Long Thanh international airport, so far the biggest airport project in Vietnam.
The BW project is slated for completion by end-2025, prior to the first commercial flight of Long Thanh airport scheduled in September 2026.
BW is a leading industrial park and logistics service provider in Vietnam with a portfolio of 1,000 hectares in 12 localities of Vietnam. Warburg Pincus has been investing in BW since 2018.
In September, during Vietnamese Party chief and State President To Lam’s working trip in the United States, he had a meeting with Jake Siewert, Warburg Pincus head of global public policy and political risk. The American side affirmed the firm has so far invested over $4 billion in Vietnam, the third-biggest figure in Asia, only behind China and India.
Warburg Pincus aims to invest more in Vietnam in green finance, renewable energy, implementation of Vietnam’s power development plan VIII (PDP VIII), he added.
From: The Investor
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