Kurz Vietnam, a subsidiary of German thin film producer Kurz, inaugurated Friday a $40-million factory at Vietnam-Singapore Industrial Park (VSIP) in Binh Dinh province, south-central Vietnam.
This is the first project for VSIP Binh Dinh. In the first phase, the 12-hectare factory will have an annual capacity of 15 million square meters of Luxor and Alufin thin film.
The factory, also the first high-tech foreign investment project in Binh Dinh province, will collaborate with Kurz’s factories in Malaysia and China to help improve its Asia operations.
During the groundbreaking ceremony of the plant in May 2022, company officials had said that investments in the factory can be expanded to $100 million in the next 10-15 years. The factory’s products mainly serve home appliances, auto and other industries.
Also on Friday, Binh Dinh authorities began construction of a road connecting VSIP Binh Dinh to the National Highway 19. The 19.5-kilometer road has an investment of VND1.17 trillion ($48.7 million) and is set to be completed in 24 months.
The road, a prioritized project of Binh Dinh in its 2021-2025 development plan, is expected to enhance connectivity between the industrial park and nearby central provinces, boosting the province’s socioeconomic growth.
At a meeting between leaderships of Kurz and Binh Dinh province prior to the inauguration ceremony, Ho Quoc Dung, chief of Binh Dinh Party Committee, said the province would soon start building a road from VSIP Binh Dinh to the province’s Phu Cat airport.