Hòa Phát started construction on the first home appliance production plant in Hòa Mạc Industrial Park in the northern province of Hà Nam. — Photo courtesy of the firm

HÀ NAM — Hòa Phát Home Appliance Joint Stock Company on Tuesday started construction on the first home appliance production plant in Hòa Mạc Industrial Park in the northern province of Hà Nam.

The plant is expected to complete construction within five months.

Covering an area of 14 hectares, the plant would produce air coolers, water purifiers and air purifiers with a capacity of about one million products a year. The Hòa Phát Home Appliance Joint Stock Company – a member of Hòa Phát Group – has made big investment in production lines from the very beginning to produce high quality products with modern, diversified designs and competitive prices.

Earlier, Hòa Phát established the company, making a large and methodical investment in the home appliance industry on the basis of its 20 years of experience in developing the refrigeration industry. This is a step to anticipate the wave of production shifting from China to Việt Nam. The company aims to become the largest household appliance manufacturer in Việt Nam with a revenue of US$1 billion a year from this segment by 2030.

In addition to rapid deployment of new factories, the group gives priority to the research and development of high-quality refrigeration and household products that meet international standards to promote exports. — VNS