HEART Project · Hue High-Tech Park
AI Data Center & Robotics Infrastructure Platform

01Executive Summary

The HEART Project is the development of the Hue High-Tech Park (Khu Cong nghe cao Thanh pho Hue) — a 1,081 ha multi-sector, open-format high-tech park in which a large-scale AI data center is the core infrastructure asset, not an ancillary component. This is the first master plan of its kind in Vietnam. This document is an infrastructure-focused introduction prepared for a prospective delivery partner following execution of the NDA.

1.1 What the project is

• Location. Hung Loc Commune, Hue City, Central Vietnam — centroid 16.31441°N, 107.697017°E (WGS84); 4.29 km (E–W) × 5.38 km (N–S). Bounded north and east by the Cam Lo – La Son Expressway.
• Statutory basis. Established under High Technology Law No. 133/2025/QH15 and Government Decree No. 260/2026/ND-CP dated 30 June 2026 (Articles 18, 19 and 20 governing the orientation, conditions and procedure for establishing a high-tech park).
• Structure. Five functional zones (PK-1 to PK-5) plus protective green buffer and road reserve. PK-2 — the AI data center zone — is the single largest zone at 319.52 ha (29.56%). The data center is foundational AI-training and high-performance-compute infrastructure, not a storage-type facility (Report 25/2026).
• Power. Ultimate envelope ~1,550 MW: approximately 1,000 MW AI data center load and 550 MW high-tech manufacturing, R&D and utilities. Delivery per the filed roadmap (Report 25/2026) — Phase 1.1 takes 40 MW from two independent 110 kV sources over the 22 kV grid, the following phase moves to 110–220 kV, and post-2030 the park connects at 500 kV through two in-project 500/220/110 kV substations of 2 × 900 MVA each, with ~300 m tie-lines lying entirely inside the site boundary. Should State and city objectives allow an earlier start, the Investor intends to accelerate this roadmap — the commitment package in §20.2 is engineered for early expansion. See §7–§8.
• Water. 13,000 m³/day in Phase 1, rising to 100,000 m³/day in Phase 2, drawn from the Ta Trach reservoir under an existing surface-water licence and a project-specific written confirmation, with Truoi reservoir on an independent catchment as backup.
• Flood safety — designed for the 1-in-1,000-year flood. The drainage and earthworks concept is engineered against an extreme flood of 1/1,000-year return period (drawing HHFP-P1-RWS-003), and an absolute zero-inundation performance guarantee for the data center platform is fixed as one of the project’s core technical conditions (§13.2, §18.4). The guarantee rests on four engineered layers: the flood-relief canal network, fully controlled cooling-water flow routing, the upstream Ta Trach dam — built to hydropower-dam design standards, a fundamentally higher structural class than ordinary irrigation reservoirs — and professional dam operation by the dedicated state-owned Ta Trach operator. 79.5% of the site already sits in the 5–30 m elevation band, well above regional flood levels.
• Connectivity. Designed to TIA-942-C Rated-4: two independent submarine cable systems via separate landing stations (APG at Da Nang, SJC2 at Quy Nhon), diverse domestic routes from two carriers, a terrestrial Vietnam–Singapore route, and a carrier-neutral Meet-Me Room.
• Delivery. Trunk infrastructure is to be procured as a PPP project under a 25–30 year BOT contract using no state capital, via the investor-appointment route under the PPP Law.

1.2 Why the site works for heavy digital infrastructure

02Site & Regional Access

2.1 Boundary and dimensions

2.2 Regional connectivity

2.3 Urban amenities and living environment

The park is not a greenfield in isolation: the civic amenities that international staff, engineers and relocating families require are already in place nearby, and the wider living and settlement environment is being actively upgraded by the City as part of the high-tech park programme.

2.4 Benchmark against Vietnam’s established high-tech parks

03Zoning Framework — PK-1 to PK-5

The land-use balance below is the controlling zoning reference for the project. Every subsequent infrastructure figure in this document is sized against it.

3.1 Zoning principles

• Functional coherence between R&D and pilot production; high-tech infrastructure (AI data center); services and amenities; head-end technical infrastructure; and green–water–landscape.
• Statutory 15% cap on the services and amenities group (excluding technical infrastructure, greenery and water bodies) under Article 19(1)(d) of Decree 260/2026/ND-CP. At 8.20%, PK-3 is planned materially below the cap.
• High allocation to green and water — PK-5 plus the buffer is 22.79% of the site — supporting microclimate regulation and landscape integration, and excluded from the 15% service cap.
• Residential accommodation sits outside the park boundary. Long-term worker and expert housing is planned adjacent to or surrounding the park under Articles 19(1) and 24 of Decree 260/2026/ND-CP. Only short-stay accommodation directly serving high-tech operations is permitted inside the boundary (Article 30).
• Each zone is subdivided into coded functional lots with individual land-use parameters, giving flexibility in investment attraction and phased delivery.

04PK-1 — R&D and Pilot Production · 272.07 ha

PK-1 is the knowledge and prototyping core of the park. The zone is deliberately designated “pilot production” rather than “industrial production”: under High Technology Law 133/2025/QH15 the park prioritises research, technology mastery and controlled testing, and does not host purely commercial-scale industrial manufacturing within its boundary.

d) / e) Applied technology and pilot manufacturing (289.4 ha)

• Microelectronics and semiconductor pilot line — cleanrooms class 100–10,000, chemical handling systems, ultrapure water (UPW)
• Electronic components, sensors and IoT devices pilot production
• Robotics and automation equipment pilot production — industrial robots, service robots, AGVs
• High-tech pharmaceuticals — GMP-WHO compliant plant
• High-tech medical devices — diagnostic and therapeutic equipment, high-grade consumables
• New materials — composites, polymers, nano and semiconductor materials
• Technology transfer centre bridging research and production

f) International AI Robot Certification Center

A dedicated testing and certification capability for robotics and AI products — the first of its kind planned in Vietnam, and a differentiator for tenants who require in-country conformity assessment.

05PK-2 — AI Data Center Zone · 319.52 ha · the anchor

PK-2 is the largest zone in the park and its economic anchor. The AI data center is classified as technology infrastructure — computing and data infrastructure, digital platform and controlled test environment — and not as social utility infrastructure, which is the basis on which the project accesses the corresponding incentive regime. The incentive package available to the AI DC investor — tax, customs, land, speed and people — is set out in §17.

5.1 Why the data center anchors the master plan

• Anchor load. Large, stable, long-duration electrical demand is what justifies building the 500/220 kV head-end substations in PK-4 and the associated cooling and connectivity infrastructure as a single coordinated programme.
• Adjacency. PK-2 sits immediately adjacent to the head-end power infrastructure, minimising transmission distance and supporting N-2 reliability.
• Ecosystem pull. Available compute capacity is the input that draws the research, pilot production and start-up activity planned in PK-1.
• Reserve land is set aside within the zone for long-term data center expansion beyond the current programme.

5.2 Development typology — horizontal, modular, low-rise

Unlike a conventional industrial park, which needs comparatively little land, an AI data center campus is developed horizontally as independent low-rise modules. The report sets out four reasons this is treated as a technical and economic necessity rather than a preference:

1. Capital efficiency. Module-by-module phasing matches capital deployment to demand and avoids a single large outlay; shared power, cooling and network infrastructure across a wide footprint reduces unit cost per MW of compute.
2. Technology adaptability. Chips, GPUs and cooling solutions change continuously; a distributed modular layout allows upgrade, replacement or expansion of individual blocks without interrupting operating blocks.
3. Schedule. Modules are designed, constructed and commissioned in parallel, substantially shortening delivery compared with a concentrated high-rise facility.
4. Operations and safety. Horizontal arrangement simplifies heavy equipment installation and transport, power and fibre routing, and cooling pipework, while meeting demanding floor-loading, ventilation, heat-rejection and fire-protection requirements.

5.3 International reference projects cited in the master plan

The common pattern is a large land parcel outside the urban area with low-rise modular buildings — fundamentally different from the small-footprint traditional industrial park.

5.4 Design intent for the Hue AI Data Center (AI DC — “STAR”)

06PK-3, PK-4 and PK-5

6.1 PK-3 — High-tech services and amenities (DVHH) · 88.61 ha

The central district of the park and the operational front door, with a high plot ratio reflecting concentrated mixed-use development. This is the zone counted against the statutory 15% services cap.

• Management and operations block — Hue HTP Management Board headquarters, operating offices, a one-stop administrative centre for investors, security control and technical operations coordination.
• Conference and exhibition centre — international conference facilities, technology exhibition and demonstration space, event and technology-fair venues (consistent with Article 25(4) of Decree 260/2026/ND-CP).
• Commercial and financial — retail centre, commercial bank branches, financial and insurance services; legal, IP, investment brokerage and technology valuation/appraisal services (Article 25(5)).
• Short-stay accommodation and expert services — hotel, villas, serviced apartments for experts, scientists, engineers and visiting staff, permitted inside the boundary under Article 30 as directly serving high-tech operations.
• Social infrastructure — medical, education, sports, cultural, food and beverage, park and public service facilities for the working population.

6.2 PK-4 — Head-end technical infrastructure (HTKT) · 28.98 ha

The technical spine of the park under Article 3(5) of Decree 260/2026/ND-CP, containing:

• Two 500/220 kV substations — large-capacity supply with N-2 redundant configuration serving the AI load
• Water treatment plant and works — potable supply and closed-loop wastewater treatment to environmental standard
• Logistics area — warehousing and coordination of inbound and outbound goods and materials

6.3 PK-5 — Greenery, water bodies and landscape (CX, MN) · 235.93 ha

Not a passive landscape reserve. PK-5 is designated as a living lab — a controlled field-test environment under Article 3(1) of Decree 260/2026/ND-CP, directly linked to PK-1 research activity and the International AI Robot Certification Center. Green and water areas are excluded from the 15% services cap.

• Protective green buffer (CXCL, 19.01 ha) — safety corridor along the 500 kV overhead line and connection areas, doubling as an ecological corridor linking the zones.
• Roads (GT, 116.08 ha) — internal and external road network connecting to the Cam Lo – La Son Expressway, the Ho Chi Minh Road and Provincial Road 15B.
• Ben Van lake (~20 ha) — retained as a landscape feature and, per the water strategy, as a transfer reservoir.

07Power Supply and Route Redundancy Roadmap

Power is the binding constraint on this project, and it is delivered in three cumulative phases — a temporary 22 kV supply, a dual-source 220 kV supply, and a 500/220 kV supply enabled by the national power development plan amendment whose dossier is already on file (§8.2). Each phase adds a voltage level without retiring the one before it. The temporary 22 kV source is retained after the 220 kV connection is energised, and the 220 kV source is retained after the 500/220 kV substation enters operation, so that at every transition the proven source remains available while the new one is being commissioned.

7.1 Basis of record

7.2 Terminology — circuit and double circuit

Vietnamese engineering usage in the correspondence follows a convention that is worth stating explicitly, because it determines how redundancy is counted:

It follows that two 22 kV double-circuit overhead lines form two physical routes but four electrically independent circuits. Circuit-level redundancy and route-level redundancy are therefore different questions, and §7.4 and §7.7 answer them separately.

7.3 Overall roadmap

The retention rule is deliberate and has a direct construction consequence: the temporary 22 kV assets are not demolition scope once the 220 kV connection is live, and the 220 kV receiving station is not decommissioned when the 500/220 kV station enters service. Each becomes standing backup.

7.4 Short term — temporary 22 kV supply (120 MW)

The temporary phase uses the existing 22 kV network — no new transmission asset is on the critical path — and governs the Phase 1 load ramp from T0 in Q4 2026 to T1 in Q4 2027.

Redundancy analysis

7.5 Medium term — dual-source 220 kV supply

HPC requires continuous supply from two independent sources taken from two different 220 kV substations. The two sources are being brought to readiness on complementary tracks — Hue 220 kV firm today, Chan May carried on the City’s priority grid list.

HEART receiving substation and in-park distribution

Internal 110 kV distribution is designed to two typical section options, selected route by route according to building density, visual amenity and safety-corridor requirements: (i) overhead line on single-pole steel towers — 25 m corridor for a single circuit, 39 m for a double circuit; (ii) underground 110 kV cable in a cable trench or cable tunnel — 25 m corridor.

7.6 Long term — 500/220 kV supply, subject to PDP8 amendment

Phase 2 adds approximately 1,400 MW, which requires connection at 500 kV.

7.7 Redundancy status by phase

7.8 Technical requirements

7.9 Coordination points and critical path

These four coordination items pace the programme — and each now has a filed dossier or an agreed plan behind it (§8).

08Power Grid Connection — Filed Status · September 2026

This section records the grid-connection position as filed with the authorities as at September 2026, and supersedes the indicative short-term figures in §7 where they differ. The Phase-1 registration on file is 40 MW from two independent 110 kV sources with 100% mutual backup — the configuration required for Rated-4. Both source substations exist today, and should State and city objectives allow an earlier start, the Investor intends to accelerate the expansion roadmap on the strength of the commitment package in §20.2 (Report 25/2026).

8.1 Phase 1.1 — 22 kV connection dossier submitted

• Dossier on file. On 28 Aug 2026 the Investor submitted Official Letter 20/CV-HEART with the full technical package (22 kV System Connection Report R5 · preliminary grid-impact assessment · real load roadmap) requesting in-principle acceptance by Hue Power Company — Step 1 of the connection-agreement sequence under Official Letters 3208/SCT-NL and 3593/HPC-KD+KH+KT. The temporary supply plan was agreed at working level with Hue PC and Central Power Corporation (EVNCPC) on 28 Jul 2026.
• Load and reliability. Registered capacity 40 MW from the 110 kV La Son substation and the 110 kV Phu Bai 2 IP substation, each registered for the full 40 MW — 100% mutual backup, satisfying Rated-4 (highest tier, ANSI/TIA-942-C). Of the 40 MW, 37.70 MW (94.25%) is IT and cooling load.
• Connection works. Two double-circuit 22 kV routes from La Son (~4.5 km) and one double-circuit route from Phu Bai 2 (~7 km), ACV-240 conductor; fully investor-funded (~VND 41.9 bn), completion within 2027; second transformers (63 MVA) proposed at both source substations in 2028 in step with expansion.

8.2 Main supply at 110 kV and above — by phase

• Phase-1 main scheme. Two new 110/22 kV substations — KCNC Hue 1 and KCNC Hue 2 (2 × 63 MVA each) — connecting to the 220 kV Hue substation, the 220 kV Chan May substation and the 110 kV Phu Bai 2 substation; planning supplements for the 110 kV and 220/500 kV substations proceed in a dedicated dossier alongside the City’s power development plan update.
• PDP8 amendment — dossier submitted and under appraisal. Per MOIT appraisal criteria (Official Letter 4912/BCT-KHTC), the Investor petitioned for two in-project 500/220/110 kV substations of 2 × 900 MVA each, with ~300 m 500 kV tie-lines lying entirely inside the site boundary (Official Letter 14/2026/CV-HEART) and submitted a pre-feasibility-level dossier on 11 Aug 2026 (Official Letter 18/2026/CV-HEART, completing requirements of 2920/SCT-NL). At city level the project is on the priority grid list (1937/SCT-NL: 150 MVA in 2026–2030 · 1,400 MVA in 2031–2035). At the 16 Sep 2026 session, EVNCPC identified PDP8 inclusion of the two 500 kV substations as the key enabler for large secondary investors — and the Investor has proposed to fund the construction of both 500 kV substations itself (Report 25/2026).

8.3 Load commitment and grid-stability package — CV 24/2026

• Four-part assurance offered to the power sector (Official Letter 24/2026/CV-HEART, 15 Sep 2026): ① the Investor funds 100% of the grid works and hands them to the National Power Transmission Corporation (EVNNPT) on completion (Electricity Law 61/2024 Art. 5.4; Decrees 02/2024 and 77/2025); ② minimum take-or-pay payment on registered capacity of each phase, independent of actual usage — negotiating orientation 60–70% of registered capacity per current international data-center practice, with an early-termination fee of two years of minimum fees; ③ performance security by bank guarantee or letter of credit with per-phase load commitments; ④ participation in the direct power purchase mechanism (DPPA) under Decree 57/2025.
• Two-part tariff ready. The Investor stands ready to adopt the capacity-plus-energy two-part tariff MOIT applies from 01 Jan 2026 (Politburo Resolution 70-NQ/TW) — the capacity component is precisely the registered-capacity payment mechanism offered.
• Grid stability engineered in. A four-layer oscillation-absorption structure and a battery energy-storage system combined with supercapacitors, built in three steps 36 → 63 → 90 MW per the filed pFS and oriented to ~200 MW at full scale — configured as a zone-common grid-stability facility covering a portion of in-park capacity (optimal storage share 20–40% of load, the capital-efficient hybrid point) rather than full self-supply, with the supply plan developed under the exclusive co-development track, third-party supply included; a milestone-verified load-ramp MOU is proposed with Hue Power Company and EVNCPC, witnessed by the Department of Industry and Trade — each load step starts only after the previous step passes grid-impact verification.

8.4 Medium-to-long-term generation sources

• National policy tailwind. MOIT Report 760/BC-BCT to the Prime Minister orients the amended PDP8 toward fast-deploying generation and strengthened cross-border interconnection and imports — precisely the source configuration the park has petitioned for.
• Investor petition. Once the supply scheme is updated into the amended PDP8, prioritise imported Lao hydropower over the central-region 220/500 kV interconnection trunks as the park’s medium-to-long-term source: competitive price, low emissions, feasible schedule.
• Chan May – Lang Co LNG power plant. The Investor has confirmed it will study a long-term co-investment structure, inviting a major Korean LNG-power group to hold the majority role for co-development serving the park and data center directly. Preconditions: gas-price/tariff mechanism, PPA, and fit with the amended PDP8 schedule. Findings will be reported to the People’s Committee.

8.5 A-to-Z power architecture — from renewable DPPA to in-park distribution and grid stability

What a hyperscaler actually diligences is not a headline DPPA tariff but the reliability of the whole chain, from generation to delivery. HEART therefore structures the complete A-to-Z package in advance: wide-area renewable procurement over the national grid and on-site generation in parallel, self-funded grid works handed to EVNNPT, a 100% underground in-park distribution network held by the zone’s own retail business unit, and a staged storage-based stability stack — elevating the site from “powered land” to “a site with a complete, executable power solution”. For the Phase-1.1 40 MW package, an exclusive co-development track with a Renewables Major candidate is in structuring under NDA — DPPA registration and settlement expertise, wide-area renewable aggregation, a supply plan for the zone-common BESS stability facility (third-party supply included) and delivery guarantees with renewable-attribute transfer — against anchor demand visibility of up to ~15 years, while the zone electricity-retail right itself remains with HEART.

The park’s supply position, in plain terms: at 22 kV, two circuits of 40 MW each are allocated (AIP) and building now, with a further 40 MW expandable on the same corridors; at 110 kV, two circuits of 150 MW each are secured — one available immediately, the other built out against a demand-backed commitment; and at 500 kV, the in-park substations are moving through the PDP-8 amendment, with the newly planned nearby 500 kV substation being moved inside the park on a demand basis — the platform for a Giga-Scale Campus. The three levels are cumulative, not substitutional.

09Cooling Water Infrastructure

The dominant loads — large-scale AI data centers and high-tech manufacturing (semiconductor, robotics, electronics) — are all in the very high cooling-water demand category with demanding purity requirements. Supply is structured as a multi-source strategy with redundancy.

9.1 Demand profile

Actual capacity ramps with tenant and secondary-investor demand; the maximum for each phase is not necessarily reached immediately.

9.2 Primary source — Ta Trach reservoir

• Storage: 420 × 10⁶ m³ at normal water level. Managed by Irrigation Investment and Construction Management Board No. 5, Ministry of Agriculture and Environment.
• Existing licence: Surface water exploitation licence No. 275/GP-BTNMT dated 28 Oct 2022, permitting 2.0 m³/s (~172,800 m³/day) for domestic and industrial supply.
• Project-specific confirmation: By Official Letter No. 2744/SNNMT-TN dated 20 Apr 2026, the Hue City Department of Agriculture and Environment formally confirmed that HEART HT’s abstraction requirement of 100,000 m³/day (1.157 m³/s) is fully compatible with the Ta Trach source, via auxiliary dam No. 4.
• Preliminary intake concept: pump station on the bank of the Ta Trach River downstream of the hydropower dam — no structural impact on the dam — combined with Ben Van lake (Hung Loc Commune) as a transfer/storage reservoir.
• Proximity: approximately 2 km from the park boundary.

9.3 Backup source — Truoi reservoir

To raise reliability in adverse scenarios — extended dry season, pipeline failure, maintenance outage — Truoi reservoir (Phu Loc area, useful storage approximately 60 × 10⁶ m³) is under study as a supplementary and standby source. Truoi sits on a catchment independent of the Huong River, diversifying supply and removing single-asset dependency.

10Fiber and Connectivity

Connectivity is specified to TIA-942-C Rated-4, structured around four core requirements. Phase 1 operates at 150 MW from Q4 2027; Phase 2 (2029–2031) scales to approximately 1 GW.

VNPT and Viettel have both formally confirmed readiness to provide fibre connectivity as soon as investor demand is established — including site survey, detailed technical design, priority resource allocation and alignment with the project’s overall programme.

11Telecommunications Network — Implementation Plan

Two national carriers have confirmed in writing that they can meet the project’s connectivity requirements — Viettel (Letter 705/HUE-GPCNTT) and VNPT (Letter 1028/VNPTHUE-KTDT) — each committing to field survey and detailed design. In practice, fiber build-out typically runs ahead of power-line corridor schedules.

11.1 International connectivity — two landing stations, heterogeneous routes

• Primary gateway — Da Nang (~85 km). APG submarine cable (23 ms RTD to Singapore) · VSTN terrestrial route (39 ms — failure-mode independent of submarine systems) · ALC submarine cable (landing expected 2026).
• Second gateway — Quy Nhon. SJC2 (21 ms) · ADC.
• Capacity. Carrier-available capacity in 2027: 4.0–8.0 Tbps. Targets: Phase 1 — 10–20 Tbps; Phase 2 — above 100 Tbps. Planning density 70–130 Gbps/MW.

11.2 Park–landing-station route — procurement approach

• Two parallel tracks under negotiation with the carriers: (i) leased infrastructure — two underground dark-fiber routes direct to the Da Nang landing station, taken per wavelength or as long-term IRU; or (ii) direct investment / co-investment in the underground route with the carrier. Selection on commercial terms at negotiation, on the principles of maximum undergrounding and two physically independent routes.
• Schedule coupled to power. International capacity registration activates on approval of the power-supply scheme (submarine capacity activation ~8–10 months; domestic transmission expansion ~12 months); first registration targeted Q4 2026 – Q1 2027.

11.3 In-park redundancy and duct infrastructure — 100% underground

• Redundancy configuration. Two physically independent park entries (A/B, ≥20 m apart, different roads and structures); two carrier-neutral Meet-Me Rooms (minimum three carriers); ring-structured in-park backbone — a single cut still routes the reverse direction of the ring.
• Duct infrastructure. HDPE Ø110 duct banks — 4–6 ducts on trunk sections, 12–16 ducts (plus spares) on data-center approaches, 1–2 air-blown-fiber ducts initially; manholes ≥2.0 × 1.5 m at 50–80 m spacing; later expansion no-dig; dedicated trench, segregated from the 22 kV underground power corridor (QCVN 07-3 · 07-5). All outside-plant network in the park runs underground — applying precedent already approved at domestic technology parks.

12Expressway Access & Internal Road Network

The park is one of very few Vietnamese high-tech sites with direct expressway frontage: the CT01 (Cam Lo – La Son) expressway forms the north and east boundary, and every metre of access road and the future interchange lies inside the project boundary — no third-party land to assemble, single-owner delivery.

12.1 Access secured today — permanent solution in engineering

• Phase-1 access is in service now. The existing overpass on CT01 serves Phase-1 traffic; the load-capacity survey terms of reference have been issued and a temporary strengthening plan prepared, so construction logistics can begin in 2026 — per Report 25/2026, Phase 1.1 deliberately proceeds on the existing overpass to keep the programme at full speed, with the permanent interchange delivered in parallel with or immediately after Phase 1.1, and no tolls charged on the connection.
• Being engineered for GW-scale logistics. The permanent solution — a four-lane grade-separated interchange with an approach bridge of ~200 m, structurally rated for super-heavy haulage of 200 tonnes and above (220/500 kV transformers and large plant) — is in engineering now, on the basis of the external-connection study completed 31 Aug 2026.
• All within the boundary. The connecting roads and the interchange sit inside the project boundary, so land, design and construction are delivered under one hand.

12.2 Delivery path — mapped, funded and precedent-backed

• Approval route mapped, correspondence ready. Expressway connection approval runs Ministry of Construction → Directorate for Roads of Vietnam → Road Management Unit II (Decree 241/2026/ND-CP; connection agreement per Art. 27, Decree 165/2024/ND-CP). The full technical study is complete and the registration correspondence pack is ready to file.
• Fast-track channel identified. The CT01 La Son – Hoa Lien section toward Da Nang is being widened to four lanes right now — attaching the interchange works to that live programme is the identified fast-track, with City-level coordination.
• Investor-funded, ready to execute. HEART stands ready to build the interchange directly, with funding available immediately on assignment, under the customary cost-offset practice (deduction against land rent, taxes and fees). This is the proven Vietnamese model: at the Hau Giang biomass power plant and at the Vinh Tan power centre / Pacific general port, investor-delivered connector roads and junctions achieved schedule certainty and were handed to the authorities on completion.

Corridor photo record · CT01 La Son – Hoa Lien

Corridor photo record · four-lane widening in progress

12.3 Preparation status and internal road network

13Site and Ground Conditions

13.1 Topography

Of the 1,081 ha, approximately 700–800 ha is topographically straightforward to develop; the remainder is upland and natural water body retained for landscape value. Approximately 79.5% of the site lies in the 5–30 m elevation band on competent granite bedrock, giving a bearing safety factor of 15–50× data center requirements — the condition that underpins siting PK-2 heavy loads here.

13.2 Geotechnical, hydrology and climate

13.3 Existing land use and population

• Hung Loc Commune was formed on 1 July 2025 by merging Loc Son town and Loc Bon and Xuan Loc communes. Population approximately 32,586 across 95.62 km² — density approximately 341 persons/km², low to moderate. 17 hamlets and one village.
• Employment: of 32,586 workers, approximately 80% are in non-agricultural sectors and 20% in agriculture, forestry and fisheries.
• Existing cover: production forest plantation with the Ben Van resettlement lake (~20 ha) — suited to an ecological landscape strategy.
• Resettlement: per the 1:10,000 cadastral review (Loc Bon, 2026), approximately 180 households concentrated in Ben Van, Duong Loc and Hoa Loc hamlets. No mass relocation is required, and site formation cost is marginal relative to comparable parks — the report contrasts this explicitly with the land acquisition difficulties experienced at Hoa Lac HTP. Local residents are targeted for retraining and occupational transition into the park.

14Development Roadmap and Business Plan

14.1 Positioning

The park is proposed as a multi-sector, open-format high-tech park with the AI data center as core infrastructure — not as an ancillary item. The report states plainly that this model has no precedent in Vietnam. It is positioned as a national-grade high-tech park under the Hue City People’s Committee, with one-stop licensing within 90 days.

14.2 Strategic roadmap

14.3 Implementation phasing

14.4 Priority sectors

Workforce target: 10,000 digital-sector personnel engaged in high-tech and strategic-technology production and business in the park by 2030.

15Phased Implementation Plan — 40/30/30 · September 2026

This section consolidates the phased implementation plan reported to the Chairman of the Hue City People’s Committee in September 2026 (Report “Kế hoạch thực hiện phân kỳ Khu công nghệ cao thành phố Huế”). Area and budget figures are provisional allocations at a 40/30/30 ratio; definitive figures will be fixed in the 1/2,000 zoning plan and the Feasibility Study.

15.1 Why Hue — five siting conditions, met simultaneously

Hyperscale AI data centers are not sited on land rent; they are sited on five conditions that must all be in place at the moment of the investment decision. Several Vietnamese provinces moved earlier on policy, yet none operates a hyperscale AI data center — because the five conditions were never met at once. Hue meets all five:

15.2 Phasing structure — three phases, Phase 1 split 1.1 / 1.2

• Layout. The 1,081 ha area divides into four sectors: Phase 1.1 in the north-east, adjoining the main transport axis (started first); Phase 1.2 at the centre; Phase 2 in the south adjoining La Son IP; Phase 3 in the remaining west.
• Division criteria. ① spread the compensation and site-handover workload; ② sequence access to external utility tie-in points (power – water – telecom – roads); ③ bring initial demand (AI data center, technology zone) into operation early.

15.3 Two-pillar structure and investor commitment

• Pillar A — trunk infrastructure (PPP–BOT). USD 315.3 m, 100% private capital, no state capital and no government guarantee; 25-year operation, contract end 01 Jan 2052; equity ≥ 30% / debt ≤ 70%; financial close within 12 months of contract signing; performance security 1–3% accepted.
• Pillar B — AI data center (separate project under the Investment Law). Phase-2 scale USD 2,330 m (above the VND 30,000 bn special-incentive threshold, Art. 20 Investment Law); debt : equity 70 : 30; sustainability targets — PUE 1.28 and 100% renewable energy by 2030. Financial reference indicators are disclosed to NDA + KYC counterparties only, through the secured data room (§16).
• Single counterparty, clean structure. The PPP project enterprise is established and 100%-owned by HEART HT; the Investor and the project enterprise together form one contract party with the People’s Committee (PPP Law Art. 49.2). Strategic partners participate through capital contribution or share purchase in HEART HT, and the executed NDAs and letters of commitment remain effective, to be completed and supplemented before FS approval (Report 25/2026).
• Acting ahead of approval. USD 50.0 m own budget deployed in 2026, of which USD 30.04 m is the full compensation, support and resettlement cost — borne entirely by the Investor inside the USD 315.3 m total investment, with no land-rent offset requested, preserving the project’s 100% private-capital character (Report 25/2026). The entire USD 50.0 m is contributed and disbursed as paid-in equity following completion of the charter-capital increase; debt is drawn only from 2027 after financial close.

15.4 Anchor pipeline and activation sequence

• Target group. Six global neo-cloud providers (US GPU-export-approved), operators from the global top-10 data center group currently site-hunting in Vietnam, and six Anchor candidates (global big tech, HQ in the US and Asia–Pacific).
• Current status (anonymised under NDA). KYC packs issued to prospective customers; NDAs signed with multiple parties; several parties in site due diligence; three of six Anchors have received site information over an extended period.
• Majority-role screening. One major candidate in the power/energy sector oriented to a majority role in the power component, and one major candidate in the AI DC sector oriented to a majority role in the AIDC component, have been screened at central-government circulation stage. Both remain candidates; identities are withheld under NDA and may be replaced by third global operators.

16Capital Structure — Pillar A and Pillar B

The project is capitalised in two separate pillars, with different balance sheets, different corporate vehicles, different investor sets and different procurement routes. Pillar A is the park’s shared trunk infrastructure, delivered under a PPP/BOT contract using no state capital. Pillar B is the AI data center itself, funded by the data center operator and its own capital stack, outside the PPP contract. Construction opportunity exists in both — but the contracting counterparty is not the same.

16.1 Why the two-pillar split matters commercially

• Leverage sits in Pillar A. At approximately USD 300 million, Pillar A is around 2% of the capital stack it unlocks at the 100 MW module level — and a precondition for all of it. Power, water and fibre delivered on programme are what convert the site from land into contracted capacity.
• Risk profiles differ. Pillar A carries land, permitting, utility-interface and long-tenor availability risk under a 25–30 year BOT. Pillar B carries technology-obsolescence, tenant-credit and utilisation risk on a much shorter asset life.
• Contracting counterparties differ. A delivery partner may hold a role in one pillar, both pillars, or a coordinating role across the interface. The interface itself — where trunk infrastructure hands over to the data center module — is where most schedule risk concentrates.
• Scale asymmetry is the negotiating fact. Ten modules at the 1,000 MW target imply a Pillar B stack roughly two orders of magnitude larger than Pillar A. The park’s value is not in its own CAPEX; it is in what that CAPEX makes buildable.

17AI DC Investor Incentives · Law 133/2025/QH15 · Decree 260/2026/ND-CP

An AI data center built inside the Hue High-Tech Park (Pillar B, §16) sits under the new high-tech regime in force since 1 July 2026 — High Technology Law No. 133/2025/QH15, Decree No. 260/2026/ND-CP, and the lists of strategic and high technologies (Decisions 21/2026/QĐ-TTg and 23/2026/QĐ-TTg). The regime works in layers: a location-based package that every new project in the park receives without any enterprise certificate; a treatment that the Law names specifically for AI data center projects; certificate-based upgrades that extend the preferential tax period to 25 years; and cost pass-through on land that is written into the park developer’s own obligations.

17.1 The incentive stack at a glance

17.2 Layer 1 — location-based package (no certificate required)

These apply to the AI data center project because it is located in the park. Projects in a high-tech park include projects under the Investment Law, public investment projects and PPP projects (Decree 260, Art. 3.7).

17.3 Layer 2 — the AI data center treatment and the eligibility pathway

17.4 Layer 3 — certificate-based upgrades for the AI DC operating company

If the AI DC project company (or its R&D arm) obtains a confirmation as one of the enterprise types below, the location package is upgraded. Certificates are valid for 5 years (Decree 260, Art. 17).

17.5 Land, lease and cost pass-through

• Who leases from whom. The AI DC investor subleases land from the park infrastructure developer (Decree 260, Art. 9.3(a)). The park is a no-State-budget park (§15.3, §16): the State leases the land to the developer, which subleases developed land; for projects that must meet the Art. 26 criteria, sublease follows the project’s confirmation letter (Art. 23.3).
• Land rent exempted at developer level. After the construction-period exemption, the developer is exempt for the whole lease term on area subleased to high-tech and strategic-technology projects, and exempt for 15 years with a 50% reduction thereafter on other area (Art. 23.5).
• Pass-through written into the rule. The developer may not include the exempted or reduced land rent in the sublease price (Art. 23.5), and the sublease price framework is registered with the Management Board (Art. 29.8). The AI DC tenant therefore does not carry State land rent on qualifying area.
• Priority of law. Where high-technology law differs from land law, high-technology law prevails (Decree 260, Art. 44).
• Tenure. The AI DC runs on a 50-year high-tech track (§1); Pillar B’s phase-2 reference scale is above the VND 30,000 bn special-incentive threshold of Art. 20 of the Investment Law (§15.3), which is a separate track.

17.6 Talent, R&D and financing support

17.7 Conditions, obligations and points to confirm

18Delivery Structure — PPP / BOT

The construction, operation and transfer of the park’s technical infrastructure is to be delivered under a public–private partnership using a BOT contract of 25–30 years, financed entirely from non-budget sources. This is a PPP project using no state capital under Articles 70, 71 and 72 of PPP Law No. 64/2020/QH14 (as amended and consolidated at Document No. 81/VBHN-VPQH dated 26 March 2026). All capital is arranged by the private investor; no form of state capital is used.

18.1 Scope of the PPP project

The full set of shared technical infrastructure for the park (approximately 1,081 ha at Hung Loc Commune, per the approved plan):

• Site formation, ground preparation and framework technical infrastructure
• Internal road network and external traffic connections
• Power supply — sources, substations and high-capacity transmission lines serving the data center load
• Water supply, drainage and wastewater treatment; large-scale water supply and cooling systems
• Telecommunications, multi-source multi-route fibre and shared digital infrastructure
• Lighting, landscape, fire protection and other shared infrastructure per the master plan

18.2 Investment phasing under the contract

Programme, scale and boundary of each phase are fixed in the feasibility study report and the project contract.

18.3 Procurement route

18.4 Technical qualification requirements

The report states expressly that the park’s technical infrastructure directly serves high-tech operations and the AI data center and carries exceptional technical requirements: high-capacity, high-reliability power source and transmission with redundancy targeting N-2 and Rated-4 reliability; multi-source, multi-route, high-capacity fibre with uninterrupted redundancy; large-scale water supply and cooling; and other works to advanced technical standards. Because of this specialised technical character and the need for full coordination, the project requires an investor with the professional capability, track record and integrated solution to match.

19Market Context — AI Infrastructure Unit Economics

The following third-party market data points are provided as external context for the scale and revenue density of AI data center capacity. They are not project forecasts and do not form part of the establishment report.

19.1 Read-across

• Per-MW annual contract value is the metric that determines whether AI data center capital is recoverable. At the reported USD 20 million per MW average, capacity is being contracted at roughly double the level of the earlier generation of operators.
• Applied to the Hue programme purely as an order-of-magnitude reference, the ~1,000 MW AI data center target sits in a capacity band where operators are currently contracting multi-billion-dollar annual revenue. The determining constraints are the ones this document sets out: power at scale, water at scale, diverse fibre, and schedule certainty.
• This is precisely why the master plan treats the AI data center as the anchor and sizes the 500/220 kV head-end, the 100,000 m³/day water strategy and the Rated-4 connectivity around it, rather than the reverse.

20Approvals & Execution Status — Systematic De-risking

20.1 Register — current evidenced position

Every material item on the programme is identified, owned and moving. The September 2026 filings advanced the register decisively: the grid-connection dossier and the PDP8 pre-feasibility dossier are on file, water and carrier confirmations are in writing, and the 2026 budget is committed. The table below states each item and its current, evidenced position — and the thirteen standing commitments in §20.2 are what convert this register into an accelerable programme.

20.2 Thirteen standing commitments of the Investor — Report 25/2026

21Indicative Delivery Partner Scope and Next Steps

This section is indicative and for discussion. It sets out where international construction and programme management capability maps onto the delivery structure described above.

21.1 Where the delivery challenge sits

21.2 Candidate roles for discussion

• Programme management / owner’s representative across the PPP trunk-infrastructure scope, interfacing EVN, the water authority, VNPT/Viettel and the Management Board
• Design-build or construction management for the PK-2 AI data center modules, including a standard module design set for repeat delivery
• Specialist MEP delivery — HV substations, liquid cooling systems, ultrapure and cooling water plant
• Cleanroom and process facility delivery in PK-1, including the semiconductor pilot line and GMP-WHO pharmaceutical facility
• Feasibility study and contract support — the investor-appointment route requires an FS report, capability dossier and draft project contract, where demonstrated international delivery capability directly supports the appointment justification set out in §18.3

21.3 Proposed next steps

1. Technical workshop on the Phase 1 150 MW package — scope split between EVN works, PPP works and tenant works
2. Site visit to Hung Loc, including the 500 kV corridor, the Ta Trach intake location and the Step 1 200 ha parcel
3. Schedule review against the Q4 2027 COD, identifying long-lead items — HV transformers, switchgear, cooling plant
4. Commercial framework discussion — role within the BOT structure, and the interface with the anchor tenant’s own delivery programme
5. Release of the detailed technical annexes — master plan drawings, single-line diagrams, geotechnical survey and the full establishment report — under the executed NDA

§Important Notice and Disclaimer

This notice forms an integral part of the document. By retaining, reading or relying on any part of this document, the recipient accepts the terms set out below.

◉Site Survey

On-the-ground photographic survey of the HEART project site and its immediate surroundings, captured during field visits. Click any photograph to enlarge.