Tuesday, November 21 2017

VietNamNews

Korean company plans VN aircraft engine parts factory

Update: June, 21/2017 - 19:00
Hanwha Techwin has earmarked some 10ha of land near Hà Nội to build a plant to manufacture aircraft engine parts. — Photo nhipcaudautu.vn
Viet Nam News

HÀ NỘI — South Korean Hanwha Techwin has earmarked some 10ha of land near Hà Nội to build a plant to manufacture aircraft engine parts, Business Korea reported.

The company has requesting approval of its investment from the Vietnamese Government.

It will start construction of the plant in August following approval and begin operations in the second half of next year. The plant is expected to cover a site of some 6ha.

Hanwha Techwin is planning to expand its sales of civilian aircraft engine parts to some one trillion won (US$900 million) by 2025 by expanding its engine parts production capacity through the setting up of plants overseas.

Việt Nam was chosen since the country has a satisfactory logistics environment and high competitiveness.

Hanwha Techwin started building the Hanwha Techwin Security factory at Quế Võ Industrial Park in the northern province of Bắc Ninh in April this year.

The first phase of the project has investment capital of $100 million, specialising in manufacturing electronic circuits, semiconductors, chips, computers and cameras. — VNS

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