MHI Aerospace Vietnam, part of Japanese giant Mitsubishi Heavy Industries (MHI), has submitted an environmental license application for a $16.4 million expansion project in Hanoi.
MHI Aerospace’s initial project was given an investment certificate in December 2007, entered the first phase of operations in 2009, and began second phase operations in 2014, according to the Hanoi Industrial and Export Processing Zones Management Authority (HIZA).
The expansion in Thang Long Industrial Park would double the annual capacity of the 2.6-hectare factory in terms of production, repairs, and processing to 500 sets of aircraft wings and components, 400 sets of aircraft doors and components, and 150,000 sets of aircraft components.
The firm plans to complete the expansion by Q4 of this year, including factory renovation in Q2 and Q3, and equipment installation in Q3 and Q4.
With the new move, the company plans to add 32 people to its current workforce of 211, which includes 206 Vietnamese and five expatriates.
The nine industrial parks in Hanoi, covering 1,670 hectares, have so far attracted 709 investments, including 302 FDI projects with total registered capital of $6.4 billion, according to the HIZA. The capital city is building three more facilities, namely the 160-hectare Quang Minh II, the 200.6-hectare Hanoi high-tech biotechnology park, and the 302.8-hectare Soc Son clean industrial park. HIZA plans to attract FDI of $400 million in 2023.