Hong Kong’s Kamkiu Aluminum eyes $100 mln plant in northern Vietnam
Hong Kong-headquartered Kam Kiu Aluminium Products Group Ltd. plans to pour $100 million into an aluminum plant in Vietnam’s northern province of Nam Dinh to serve tech companies.
The plant, its first overseas investment, will likely cover 12-20 hectares in My Thuan Industrial Park, said Harley Lei, a company executive, at a meeting with the province’s Party chief Pham Gia Tuc on Wednesday.
Nam Dinh’s Party Secretary Pham Gia Tuc holds talks with Harley Lei, an executive of Kam Kiu Aluminium Products Group Ltd., in Nam Dinh province, northern Vietnam, July 24, 2024. Photo courtesy of Nam Dinh newspaper.
The facility will churn out aluminum parts for electronic equipment, smart devices (phones, displays, speakers, watches), and automotive parts, with clients including tech giants, Lei said.
The group expects to put the plant into operation in May 2025, so it needs provincial authorities to facilitate administrative procedures and ensure services such as electricity, liquefied natural gas, and water, among others.
The Hong Kong aluminum extruder committed to using advanced technology for the plant.
In response, Tuc assigned relevant authorities to help the plant go online next May. The investment registration license will be granted within 36 hours once full applications are submitted, he ensured.
Established in 1983, Kam Kiu Aluminium Products Group has a plant in Guangdong, China, and offices in Macau, New Zealand, and North America.
Nam Dinh attracted $116 million worth of foreign direct investment in the first half this year, down 51% year-on-year, according to government data.
Meanwhile, Hong Kong was the third-largest FDI provider for Vietnam in the six-month period, with a registered amount of $1.73 billion, up 83.8% year-on-year.
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