Thaco raises investment in Chu Lai Economic Zone to $6 bln

Truong Hai Auto Corporation (Thaco) will pour nearly 3 billion USD into the Chu Lai Open Economic Zone in the central province of Quang Nam in the 2017-2021 period, lifting its total investment in the zone to 6 billion USD.

According to Chairman of the Board of Directors of Thaco Tran Ba Duong, the company will contribute two-thirds of the new investments and mobilised the remaining amount from other investors.

The company began construction of an automobile assembling factory with a capacity of 100,000 units per year on March 26. It will then manufacture buses and trucks with respective capacities of 20,000 and 100,000 units per year, using new and modern technologies.

Additionally, Thaco will invest in support industry, aiming to increase the rate of localisation of its cars to at least 40 percent, towards exporting its products to other ASEAN member nations.

It will also manufacture machineries and equipment serving agricultural production and build a new 200-ha industrial park in order to attract investors in support industry and mechanics in the economic zone, Duong said.

He added his company will invest to expand the Chu Lai port and its logistics area to receive ships with a capacity of over 30,000 tonnes, and provide sea and land transport services to reduce transport cost for investors in the economic zone.

Besides, Thaco will take part in housing development and social infrastructure facilities such as kindergarten, school, supermarket in the economic zone, thus luring labour force for the zone.

It committed to supporting startup programmes, especially in support industry-related startup activities of youths and young entrepreneurs in Quang Nam and the central region.

Duong said the goals are to promote the enterprise’ sustainable development amid the country’s regional and international integration, and develop the Chu Lai Economic Zone into a mechanical centre of the region and the nation.

Source VNS