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.
- Work starts on USD 100 million Korean-invested factory in Haiphong
- Work begins on a US$25 million measurement instrument company
- Japanese firm launches factory construction in Hai Phong
- Work begins on a 25-million USD measurement instrument company
- Korean firm builds electronic parts factory in Hai Phong
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