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LG Electronics to build $1.5b factory

Update: December, 20/2013 - 08:15
Customers look for electronics products in an LG brand shop in Lang Ha Street, Ha Noi.— Photo

HA NOI (VNS) — LG Electronics Viet Nam has announced plans to build a US$1.5 billion factory complex in Trang Due Industrial Park in the northern city of Hai Phong.

Spanning more than 400,000 square metres, the complex will be built in two phases from 2013-17 and 2017-23 and is expected to produce annual revenues of $1 billion by 2016.

LG will use the factory to manufacture various equipment, including electronic products for cars, smart TVs, washing machines, vacuum cleaners, and smart phones for export to some 50 countries. — VNS

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