Pegavision, a Taiwan-based maker of soft contact lenses and ophthalmic devices, will invest $200 million in building a factory in the northern province of Thai Binh.
Pegavision and Green i-Park Corporation, a local industrial park developer, signed Wednesday an in-principle agreement on land and infrastructure sublease at Lien Ha Thai Industrial Park.
With Pegavision as its 12th tenant, the total registered foreign investment capital in the industrial park will increase to $1 billion, said Bui The Long, CEO of Green i-Park.
Speaking at the signing ceremony, Thai Binh Vice Chairman Nguyen Quang Hung urged Pegavision to implement the project soon and help attract big secondary investments into the industrial park. The province will do its utmost to facilitate the investor, he added.
Pegavision recorded a consolidated revenue of TWD6,321 million ($202.1 million) in 2022, up 13% year-on-year. Its net income attributable to shareholders of the parent company was TWD1,542 million ($49.3 million), up 23.5%.
Last year, the firm invested TWD575.9 million ($18.42 million) in research and development (R&D). Its product portfolio spans 39 countries and territories including Taiwan, mainland China, Japan, the U.S., the EU, the UK, India, Singapore, Australia, Malaysia, Vietnam, Thailand and the Philippines.
In December 2022, Compal Electronics, a Taiwanese supplier to Apple, Amazon and Dell, signed a deal last December to lease 40 hectares of land, also in the Lien Ha Thai Industrial Park, for a $260 million factory with an annual capacity of 2.1 million smartwatches, 70,000 cable modems, 100,000 wireless wi-fi routers, 10,000 5G network frequency modules, 1.1 million Internet of Things (IoT) devices, and 1.25 million tablets.