Mỹ Thuận Industrial Park in Nam Định Province, where the factory will be built. — Photo kinhtedothi.vn

The management board of Nam Định Province's industrial parks has granted approval for the development of an aluminium alloy factory, which will be built by an investor from Hong Kong (China).

The US$90 million factory will be developed on an area of 12.3 hectares in Mỹ Thuận Industrial Park, and will be operated by Joint Wise Corporation, a subsidiary of Kim Kiều Aluminum Group.

It will mainly produce green aluminium alloy bars, high-quality electronic materials, and aluminium automobile accessories.

The facility will also manufacture other products such as short aluminium bars for extrusion processes, aluminium computer keyboard accessories, aluminium profiles, shock absorber parts, automotive accessories and high-end electronic components.

The factory’s production capacity is 183,000 tonnes of products per year, which will likely help improve the quality of electronic components and automotive parts as well as promote the advanced materials industry in Việt Nam.

It is expected to operate for 47 years, until September 30, 2071.

Basic construction is expected to be completed in the third quarter of 2027, followed by trial operations in the fourth quarter of 2027, and official operations beginning afterwards.

The presence of the factory will further highlight Nam Định’s potential in the high-tech industrial sector, and contribute to the province’s industrial production value and economic development.

In 2023 and the first 11 months of 2024, the management board of Nam Định's industrial parks has granted investment certificates for 32 secondary investment projects, including 27 foreign direct investment (FDI) projects, with a total registered capital of approximately $610 million. — VNS