HA NOI (BizHub) — LG Electronics Vietnam has announced plans to build a $1.5 billion factory complex in Trang Due Industrial Park in the northern city of Hai Phong.
- 300 million USD FDI project increased investment capital to 1.5 billion USD
- LG Electronics to invest news factory in Trang Due Industrial Park
- LG Electronics set to launch new facility in Haiphong
- LGE Factory in Trang Due Industrial Park officially put into operation in September 2014
- LGE project in Haiphong: Cooperation for success and efficiency
Spanning more than 400,000 square metres in the industrial park, the complex will be built in two phases in the periods 2013-2017 and 2017-2023 and is expected to produce annual revenue of $1 billion in 2016.
LG will use the factory complex to produce equipment including electronic products for cars, smart TVs, washing machines, vacuum cleaners, and smart phones for export to some 50 countries.—VNS