Saigontel raises investment capital in Đông Triều IP project

Saigontel increases the total investment capital for the construction and operation of infrastructure at the Đông Triều Industrial Park (IP) project in Quảng Ninh Province from about VNĐ1.52 trillion (US$57.8 million) to almost VNĐ2 trillion, according to a resolution recently approved by the Board of Directors of Saigon Telecommunication & Technologies Corporation (Saigontel, HOSE: SGT).

 

Saigontel headquarter in HCM City. Photo baophapluat.vn

 

HÀ NỘI — Saigontel has increased the total investment capital for the construction and operation of infrastructure at the Đông Triều Industrial Park (IP) project in Quảng Ninh Province from about VNĐ1.52 trillion (US$57.8 million) to almost VNĐ2 trillion, according to a resolution recently approved by the Board of Directors of Saigon Telecommunication & Technologies Corporation (Saigontel, HOSE: SGT).

The company said this revision reflects rising costs of construction materials, land-filling works, and other project-related expenses. As a result, the increase in total investment capital is intended to align the project’s budget with current implementation conditions.

Saigontel has also revised the project timeline. Site clearance is now expected to be completed by 2026, while land-filling and the development of technical infrastructure are scheduled to take place between 2026 and 2029.

The Đông Triều IP project covers 116.9 hectares, including about 114.8 hectares designated for supporting industrial zones. The development is planned as a supporting-industry hub serving the needs of modern manufacturing sectors while promoting environmentally sustainable industrial activities. — VNS

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