Kurz International Holdings GMBH from Germany held a groundbreaking ceremony to build a thin-film factory at the Becamex Viet Nam-Singapore Industrial Park (VSIP) in the south central province of Binh Dinh on Tuesday.

Kurz International is the first European investor to invest in the 1,425-ha park as well as in the south central province.

The US$40-million project covers 12,000sq.m. It is the third invested by Kurz International in Asia.

The first phase of the project is expected to be operational in the third quarter of 2023, with a total production capacity of 15 million sq.m of hi-tech film and coating products a year. Depending on operations in Viet Nam, the total investment for the project is expected to be up to $100 million in 10-15 years.

General Director of KURZ Vietnam Co, Cosima von Salis said the new factory in Binh Dinh Province will help strengthen the influence of KURZ Group in Asia, creating conditions for the group to actively participate in the growing market in Southeast Asia, as well as meeting market needs worldwide with high quality products.

Once put into operation, the project will attract 150 highly qualified employees while contributing to the development of local supporting industries.

Nguyen Tuan Thanh, vice chairman of the provincial People’s Committee, said there have been three official development assistance (ODA) projects funded by Germany in Binh Dinh with a total investment of more than $13 million.

With its favourable geographical position, the province has strived to improve the technical infrastructure and investment environment to meet the demand of investors, he said. — VNS