Tokyo Keiki Precision Technology Inc. has begun the construction of its first plant outside Japan at the central city of Da Nang's Hi-Tech Park on September 10. — Photo dddn

DA NANG (Biz Hub) — Tokyo Keiki Precision Technology Inc. has begun the construction of its first plant outside Japan at the central city of Da Nang's Hi-Tech Park on September 10, following two years of preparation.

The US$40-million plant, Tokyo Keiki's first investment project, is being built on a 30-hectare site in the 1,010-hectare park in Hoa Vang District and is expected to produce electro-magnetic and hydraulic equipment later this year. It is designed to produce more than 50,000 digital directional valves per month.

Representatives of Tokyo Keiki Precision Technology Inc and Da Nang take a photo at the contruction site.— Photo bizlive.vn

Michio Saruhasi, the company's general manager, said the plant aimed to boost the manufacturing of hydraulic equipment for the Asia-Pacific region and increase Tokyo Keiki's market share in developing countries.

Last year, Niwa Foundry of Japan was likewise granted an investment licence for its $62-million project in the park.

Japanese enterprises are operating at Da Nang's six industrial zones and employ more than 27,000 people. In its latest report, Da Nang said it has attracted 288 foreign direct investment (FDI) projects worth US$3.33 billion. — VNS