An Phat High-Tech Industrial Park Company Limited’s takeover of the notorious Viet Hoa-Kenmark Industrial Zone (IZ) may revive the project to make An Phat a supplier of Samsung. An Phat will try to revive the Viet Hoa-Kenmark IZ to further its ambitions After winning at the auction organised by Bank for Investment and Development of Vietnam (BIDV) in March, An Phat became the new owner of Viet Hoa-Kenmark IZ and renamed the IZ to An Phat Complex Hi-Tech IZ. Previously, in March 2018, BIDV, the largest creditor of Viet Hoa-Kenmark IZ, organised an auction to put the notorious IZ on sale. An Phat won the bidding after paying VND756.45 billion ($33.47 million), equalling the starting price of the auction. However, the selling price is still lower than the VND800 billion ($35.39 million) that BIDV expected to acquire from the deal. While BIDV is happy to have gotten rid of the liability, An Phat expects that revive the IZ and make it its new base, serving its target to establish itself in the local plastics industry. According to the development plan submitted to the Hai Duong People’s Committee, An Phat will focus on manufacturing hi-tech and environment-friendly plastic products to… Read full this story
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