Japanese sensor maker Tamagawa begins building $35 mln factory in northern Vietnam
Tamagawa Vietnam Co. Ltd., under Japanese sensor maker Tamagawa Seikia, kicked off the construction of a $35-million factory in Vietnam’s northern province of Quang Ninh on Friday.
Tamagawa Vietnam holds a ground breaking ceremony of its factory in Quang Ninh province, northern Vietnam, May 17, 2024. Photo courtesy of Quang Ninh newspaper.
Covering 6.27 hectares in the Song Khoai Industrial Park, the factory will manufacture angle sensors for engines of electric vehicles.
It is set to enter official operation in early second quarter of 2025 with an annual capacity of 14.49 million items.
Speaking at the ceremony, Yasuo Hagimoto, chairman of Tamagawa Vietnam, appreciated the support of provincial authorities and the industrial park operator so that it can begin the construction just six months after receiving the investment registration certificate in November 2023.
The Song Khoai Industrial Park is invested by Thailand’s biggest industrial developer Amata. With the latest investment, the facility has attracted 18 investments conducted by 15 investors, said Nguyen Van Nhan, CEO of Amata City Halong JSC, the investor of the industrial park. This year, seven projects there are set to commence operations, notably those of Foxconn and Autoliv.
In the year to April 20, Quang Ninh province attracted foreign direct investment (FDI) of $733.5 million, the fifth-biggest number among all localities in the Vietnam.
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