The construction will start in early 2016 and is expected to be completed in 2018.

Amata will invest $60 million to construct 1,000 factories in the first phase and the remaining capital will be poured in over the next nine phases from now to 2030.

According to Somhatai Panichewa, chairwoman of Amata in Vietnam, once completed, the project would create 300,000 jobs for local people.

Amata’s Vietnam unit is scheduled to issue 139.83 million shares in its initial public offering in the third quarter.

Amata is Southeast Asia’s leading industrial land developer, boasting thousands of clients and partners, including Fortune Global 500 Companies and numerous multi-national enterprises.

Having been present in Vietnam for 20 years, Amata owns and operates Amata Bien Hoa Industrial Park in Dong Nai province. The developer signed an agreement to cooperate with Dong Nai People’s Committee last October to build the integrated city industrial estate worth $530 million.

This year, the corporation is considering a new project in Binh Dinh province, where Thailand’s national oil and gas firm PTT is going to build its $22 billion oil refinery and petrochemical complex.

The corporation harbours additional plans to invest in three new high-tech industrial parks in urban development projects in the southern province of Dong Nai.