Korean investor kicks off the US$220-million electronic component factory
By Tieu Phong
February 05, 2018 | 08:01 AM GMT+7
The electronic component factory located in Yen Bai province covers a total area of 6.49 hectares and has a total investment of nearly VND5 trillion (US$220 million).
Prime Minister Nguyen Xuan Phuc attended the groundbreaking ceremony.
The project is invested by Edge Glass company, which is a major Korean investor in the field of components and aims to become a leading manufacturer of electronic components in the Asian and the world. Edge Glass is also an important partner of Samsung Electronics Group.
Located in eight kilometers from Yen Bai city center, the project of electronic component factory is located in Bao Hung commune, Tran Yen district. The plant is under the planned area of the residential development complex at the intersection IC12 of Noi Bai - Lao Cai expressway.
The factory is scheduled to be put into operation in April 2019, offering 1,500 jobs to the local residents.The plant is expected to bring an estimated revenue of US$800 million per year and contribute hundreds of billions of VND to the State budget each year.
The designed capacity of the factory is 54 million products/year. The factory will produce 18 million products in the first year and 48 million products in the second year. From the third year, the factory will produce 54 million products/year.
The factory will produce Cover Glass products, including 2D and 3D Cover Glass (small size) used for phone screen and 2D Cover Glass (big size) used for Tablet PC with modern machines to manufacture high-quality products.
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