Foxconn invests 246 mln USD in two new projects in Quang Ninh
The northeastern province of Quang Ninh recently approved two Foxconn projects totalling more than 246 million USD in investment.
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| Foxconn invests 246 mln USD in two new projects in Quang Ninh |
Foxconn Singapore Pte Ltd will carry out two projects, namely the Foxconn Quảng Ninh FMMV factory and the FECV Foxconn Quang Ninh factory.
Both factories will be located in the Song Khoai Industrial Park in the coastal economic zone of Quang Yen.
The FECV Foxconn Quang Ninh plant project spans 6.3 hectares and has a total investment capital of more than 4.7 trillion VND (197.8 million USD).
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 Foxcom Quang Ninh plant project covers 4.1 hectares and has a total investment of roughly 1.1 trillion VND (46.3 million USD).
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, the Republic of Korea, mainland China, Taiwan (China), and Vietnam.
The recent announcement means Foxconn Group's total investment in Quang Ninh province now spans to three projects, worth more than 300 million USD.
(Source: VNA)
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