14:31 | 04/02/2019 Economy
The central province of Thua Thien – Hue has approved Kim Long Nam JSC’s investment in an auto manufacturing – assembly complex at the local Chan May – Lang Co economic zone.
|Chairman of the Thua Thien - Hue People’s Committee Phan Ngoc Tho (R) presents a document approving Kim Long Nam JSC's investment to the company's representative - Photo: baothuathienhue.vn|
The Kim Long Motors Hue complex spans approximately 160 hectares, with its first phase costing some 3.33 trillion VND (143.72 million USD). It is designed to annually produce 16,000 buses meeting Euro emission standards.
The project is expected to become operational in 24 months.
Chairman of the provincial People’s Committee Phan Ngoc Tho said the Kim Long Motors Hue project is in line with the national planning and strategy on auto industry development.
The plant will make use of the province’s port and logistics advantages and help attract more investors to the local spare part and mechanical industries, he said, adding that it will create jobs for some 3,000 local workers.
The official said he hopes the Kim Long Motors Hue and the Truong Hai – Chu Lai Complex can form an auto manufacturing centre in the central key economic region, which consists of Thua Thien – Hue, Da Nang, Quang Nam, Quang Ngai, and Binh Dinh.
On the occasion, Kim Long Nam and Phuong Trang Group donated 20 billion VND (863,950 USD) for the province to upgrade the road leading to King Gia Long’s tomb.