Japanese firm to build 10-mln-USD factory in Vinh Phuc’s IP

10:50 | 16/10/2017 Investment

Tsuchiya TSCO Vietnam Co., Ltd has entered a land lease contract with Thang Long Industrial Park (TLIP III) in the northern province of Vinh Phuc to set up a 10-million-USD facility.

At the signing ceremony - Photo: baovinhphuc

Tsuchiya TSCO, a member of the Japan-based Tsuchiya TSCO Group, is among first companies signing a lease with the industrial park, according to the provincial People’s Committee.

Founded in 1990, the group manufactures home appliances, electronic and automotive parts. It now has 11 subsidies at home and 14 others overseas.

Its 4-ha factory in the TLIP III will produce automotive parts and industrial products.

Construction on the TLIP III started on September 21 this year, covering 213 hectares in Thien Ke and Tam Hop communes, Binh Xuyen district. It is expected to draw about 80 FDI projects from Japan and create jobs for thousands of labourers once put into service.

The industrial park gives priority to hi-tech and environmentally-friendly projects, support industries, and spare parts production in service of the auto-motorcycle and precision engineering sectors.

Theo VNA