US aircraft component producer joins Japanese resort developer to invest in Danang

By Quynh Chi - Mar 01, 2019 | 09:01 AM GMT+7

TheLEADERDanang will grant investment licenses to three foreign-invested projects worth nearly $350 million during a meeting with investors this morning.

US aircraft component producer joins Japanese resort developer to invest in Danang
Danang Chairman Huynh Duc Tho meets with foreign-invested corporations. Photo:

US-based Universal Alloy Corporation Asia Pte. Ltd. (UAC) will receive the investment licence to build an aircraft component manufacturing factory in the central city’s high-tech park. UAC is one of three world's leading corporations in supplying aluminum for aircraft production.

The $170-million factory will produce parts used in all types of aircraft exported to North America and EU markets. It is expected that the project would create from 1,700 to 2,000 jobs for the locals. 

In a recent meeting with Danang People's Committee Chairman Huynh Duc Tho, UAC General Manager Jon Kevin Loebbaka affirms that when Boeing and Airbus, UAC's long-term partners, want to expand their business in the future, the corporation would suggest Danang as their next investment destination. 

Danang government willl grant the investment license to Katsuura Hotel Mikazuki Co., Ltd. to expand the area of the existing Xuan Thieu tourist area in Lien Chieu district’s Hoa Hiep Nam ward by about 5 hectares. 

The Japanese investor is due to pour $100 million to develop the project, which is expected to feature a five-star hotel with 464 rooms, water and amusement parks serving about 6,000 guests per day, a food court and other auxiliary facilities.  

In the Danang Spring 2019 Dialogue taking place today, a $70 million factory project in Hoa Khanh Industrial Park will be licensed to US-based Key Tronic EMS. 

The project will be located on an area of 12,300 square metres, expected to produce 100 million car lights annually for export.

Key Tronic EMS's representative says that after having the investment licence, the company will embark on upgrading its production base which is expected to be put into operation this August.