The Hanoi-based Maritime Commercial Bank has agreed to lend US$25 million to Ascendas - Protrade Co Ltd to develop a $150 million technology park in Binh Duong Province.

The 500-hectare Singapore Ascendas-Protrade Tech Park in Ben Cat District, a 7:3 joint venture between the Singapore-based Ascendas and Binh Duong Province-based Protrade Corp, will house clean industries like precision engineering, electronics, health care and pharmaceuticals, and logistics when complete.

The park, work on which began three years ago, is expected to be operational this year.

Ascendas, which also has a presence in China, India, and the Republic of Korea, has a minor stake in the Viet Nam-Singapore Industrial Park in Binh Duong.

Protrade operates in areas like wood processing, rubber plantations, health care, and real estate.

Source:tuoitre