Singapore’s Casetek to make $150 mln additional investment in central Vietnam plant

Luxcase Precision Technology (Vietnam) Co., Ltd, a Casetek Singapore Pte. Ltd. subsidiary, will invest an extra $150 million in its metal component plant in the central province of Nghe An.

The additional investment was approved by the provincial administration at a Wednesday meeting, taking the project’s total value to $174 million.

The extra capital will be spent on equipment, machinery and meeting construction costs for the project located at the VSIP Nghe An Industrial Park. The move will increase the project’s annual capacity to 13.61 million units from the current 7.2 million.

In January this year, Luxcase Vietnam was awarded an investment registration certificate to develop a $24 million factory covering 10.9 hectares at VSIP Nghe An.

The plant would specialize in manufacturing metal components for notebooks, tablets and smart wearable devices; and other stationery equipment.

In the year to June 25, Nghe An province attracted $291.6 million in foreign direct investment, including $48 million from three FDI projects.

The province is home several major projects including that of Apple supplier Luxshare-ICT, which began investing in Nghe An in 2019. It has so far invested $290 million in two projects, both in VSIP Nghe An.