The project, known as Zone B of the Tho Loc Industrial Park, will be developed in Tan Chau Commune and includes the construction and operation of industrial park infrastructure.
The development aims to provide fully serviced industrial land to attract secondary investors for manufacturing and business activities.
The project will be implemented in two phases. The first phase, covering 100 hectares, is scheduled to complete land clearance in 2027 and infrastructure construction by the end of 2028.
The second phase, spanning 74.65 hectares, is expected to begin in 2028 and be completed by mid-2030.
Under the investment approval, the developer must reserve at least five hectares, or a minimum of 3 per cent of the project's industrial land area, for lease to small and medium-sized enterprises, supporting industries and innovative businesses.
Under Nghe An's 2021-2030 provincial master plan, with a vision to 2050, the Tho Loc Industrial Park is planned to cover 780 hectares and consists of two sections, Tho Loc A and Tho Loc B.
Projects developed by VSIP Nghe An are currently underway in Tho Loc A. Authorities said investment in Tho Loc B would help complete the industrial park's infrastructure in line with the approved master plan.
