The Amata Ha Long Urban Development Joint Stock Company (Amata Ha Long), part of the Amata Group, and IKO Thompson Vietnam Co., Ltd. (IKO Thomson Vietnam) have signed a sub-lease agreement for land use rights at the Song Khoai Industrial Park (IP) in northern Quang Ninh province.

Amata Ha Long will lease the land use rights for 3 ha within the 714-ha Song Khoai IP to IKO Thompson Vietnam for a project building a factory producing bearings and linear motion equipment.

The project has investment of $57 million and falls within the industrial manufacturing and processing and high-tech sectors, contributing to further development in these fields in Quang Ninh. It is expected that IKO Thompson Vietnam will commence construction of the factory in mid-2025 and commence production in early January 2026, with a designed capacity of 930 tons of products a year.

The Song Khoai IP boasts a 110 kV substation, a water supply station, and a wastewater treatment plant, ensuring the provision of electricity, water, and wastewater treatment for secondary investors.

As an experienced industrial producer in Japan, IKO Thompson Vietnam’s presence at the Song Khoai IP is a positive sign and likely to attract more investors from Japan. The goal of the Amata Group and Quang Ninh province is to promote and attract investment in the manufacturing and processing and high-tech industries to the IP, contributing significantly to the production value chain in the Quang Yen Coastal Economic Zone and Quang Ninh province.