|Quảng Ninh Province's leader granted the investment registration certificate to Foxconn. — Photo vneconomy.vn|
HÀ NỘI — Quảng Ninh Province recently approved two Foxconn projects totalling more than US$246 million in investment.
Foxconn Singapore Pte Ltd will carry out two projects, namely the Foxconn Quảng Ninh FMMV factory and the FECV Foxconn Quảng Ninh factory.
Both factories will be located in the Sông Khoai Industrial Park in the coastal economic zone Quảng Yên, Quảng Ninh.
The FECV Foxconn Quảng Ninh plant project spans 6.3 hectares and has a total investment capital of more than VNĐ4.7 trillion (US$197.8 million).
The project aims to establish a factory specialising in the production and assembly of electrical accessories for electric vehicles. Once the factory is completed in January 2025, it is expected to employ some 1,200 workers.
Meanwhile, the FMMV Foxconn Quảng Ninh plant project covers 4.1 hectares and has a total investment of roughly VNĐ1.1 trillion ($46.3 million).
The factory is built to produce IT and communication products.
A Foxconn spokesman said that the technological lines, machinery, and equipment employed by both facilities are from Japan, South Korea, mainland China, Taiwan, and Việt Nam.
The recent announcement means Foxconn Group's total investment in Quảng Ninh province now spans to three projects, worth more than $300 million. — VNS