Updated  
May, 16 2012 10:35:00

Chu Lai economic zone lures projects

Workers assemble vehicles at the US$400 million Chu Lai-Truong Hai Auto Plant in the Chu Lai Open Economic Zone. — VNA/VNS Photo
QUANG NAM — Seventy two projects worth US$1.7 billion have been licensed in the Chu Lai Open Economic Zone in the central province of Quang Nam.

They include 18 FDI (foreign direct investment) projects capitalised at nearly $200 million, according to the zone's management board.

Some of the major tenants now include the Chu Lai – Truong Hai Auto Plant with an investment of $400 million, the $150 million Chu Lai Floating Glass Plant, and the $120 million Chu Lai Sodium Production Plant.

There is also a $195 million plant to manufacture automobile engines by the Truong Hai Auto JSC using technology from South Korea's Hyundai group.

The plant will employ 500 workers when it becomes operational next February, and sell its products to the domestic market and export to regional countries.

Chu Lai – Truong Hai Auto Company already manufactures trucks, buses, and cars.

The zone also has an auto line owned by South Korea's KIA group which can manufacture 100,000 units per year.

The province has said the zone has contributed significantly to socio-economic development and restructuring of its economy, with its auto assembly plants boosting development of Viet Nam's automobile industry.

Last year the zone accounted for 14.7 per cent of the province's industrial output.

Its export value of $59 million accounted for 17.6 per cent of Quang Nam's export turnover.

Companies located in the zone offered more than 1,200 new jobs, raising the number of permanent jobs in the zone to more than 11,000. — VNS

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