The Quang Tri Economic Zone Management Board has approved detailed planning for the Quang Tri Industrial Park (IP) project to kick off construction in the fourth quarter of this year.

Covering 500 ha in the central province’s Hai Lang district, the IP will cost over VND2 trillion ($88 million) to build.

It will be a green multi-industry IP with priority given to projects with advanced technology and environmental friendliness.

Its first phase, covering 100 ha, is scheduled to be built in the 2021-2025 period with estimated investment of over VND500 billion ($20.8 million).

The first phase will be jointly implemented by the Vietnam-Singapore IP Ltd. Co, the Bien Hoa Amata Urban Joint Stock Company under Thailand’s Amata Group, and the Sumitomo Corporation from Japan.

It lies close to major traffic routes such as National Highway No. 1, National Highway No. 15D, the North - South Expressway, the North - South railway line, the My Thuy deepwater seaport, and the La Hai and Lao Bao international border gates.

The project is expected to help boost socio-economic development in Quang Tri, creating an economic center along the East-West Economic Corridor connecting Vietnam, Laos, Thailand, and Myanmar.

The project received approval from the Prime Minister in 2021.