Japan-invested Fujix Electronic Vietnam Co. Ltd. has leased 2.3 hectares at the Song Khoai Industrial Park in Quang Ninh province to build an electrical equipment factory.
Fujix Electronic and Amata City Ha Long JSC, operator of the industrial park, signed a land use right sublease agreement for the $24-million investment last week.
The Song Khoai Industrial Park is the third such facility developed by Thailand’s industrial real estate developer Amata Corporation.
Fujix Electronic will start construction of the plant in December, run trial production in June-July 2024 and begin official operations in August, employing around 100 people.
The factory’s output will include electric cables, rubber washers, electrical insulation papers, aluminum casting products and plastic casting products.
Amata Corporation was granted an investment certificate to build the 714-hectare Song Khoai Industrial Park in 2018. So far, the facility has attracted investments of over $1.1 billion.
China’s Jinko Solar, one of the largest and most innovative solar module manufacturers in the world, is its biggest tenant. Its latest investment, announced in October, is a VND17.4-trillion ($709.1 million) factory. Jinko Solar has made two other investments in Vietnam totalling $865 million.
Also in October, Taiwan-invested Renli Industrial Vietnam Co. Ltd. leased three hectares at the industrial park to build an automobile components factory. It is set to kick off construction of the plant later this year and open it in June 2025. Once operational, the factory is expected to employ 600 workers and 40-50 foreign experts.
In September, Lite-on Technology Corporation, a world-leading Taiwanese provider in optoelectronics and power management, said it aimed to build a factory at the industrial park.
In June, Quang Ninh province granted investment certificates to two projects proposed by Apple supplier Foxconn with total registered capital of $246 million. The 6.3-hectare FECV Foxconn Quang Ninh factory, with an investment of $200.24 million, will manufacture and assemble electronic components, chargers, and charger controllers for electric vehicles. The 4.1-hectare FMMV Foxconn Quang Ninh plant, with an investment of $46 million, will manufacture components for communications and IT products. Both projects will be located at the Song Khoai Industrial Park.