Taiwan electronic firm Lite-On okays $132 mln construction budget for Vietnam plant

Taiwan-based Lite-On Technology Corporation, a world-leading provider in optoelectronics and power management, has approved a construction budget of $132 million for its factory in Vietnam.

According to a recent filing with the Taiwan Stock Exchange (TWSE), Lite-On said the budget is for the construction of Quang Ninh phase 1 factory, on behalf of its Vietnam subsidiary Lite-On Technology Vietnam Co. Ltd.

The move aims to respond to the firm’s adjustment per its global production strategy, Lite-On added.

Lite-On received an investment registration certificate for its $690-million project in October 2023 and has been proceeding with administrative procedures since then.

The project will cover 30 hectares in Song Khoai Industrial Park, also called Amata Ha Long, in the northern coastal province of Quang Ninh.

In a recent project report, Lite-On noted it aims to kick off construction of the first phase in November 2024, towards completion in October 2025.

For the first phase, Lite-On plans to run trial production from November 2025 and official production from May 2026.

The project’s first phase has an annual capacity of 64.4 million items, including 33.3 million power converters, equivalent to 21,309 tons; 20.7 million computer keyboards and mouses, or 25,252 tons; 2.2 million wireless routers, or 3,245 tons; 312,500 electric vehicle chargers, or 9,375 tons; 2.34 million power sources for computer servers, or 28,024 tons; among others.