Chân Mây Port in the Chân Mây Lăng Cô Economic Zone. The Bách Việt JSC is approved in principle to develop an auto assembly and manafacturing complex. — Photo tuoitrethudo.com.vn
The authorities of Thua Thien-Hue Province on January 30 handed over a decision approving in principle to the Bach Viet Automobile Manufacturing Industry Joint Stock Company to develop an automobile assembly and manufacturing complex in the province.
The project will have a total investment of about VND2.7 trillion (US$117.4 million) and cover an area of 50ha in the Chan May-Lang Co Economic Zone (EZ).
The goal of the project is to assemble cars of up to nine seats with a capacity of 100,000 units per year. Those cars will meet at least Euro 5 emission standards. The project expects to conduct research and production of electric cars in the future.
This project’s construction is expected to start in the third quarter of 2020 and begin operation in the fourth quarter of 2024.
Together with this project, the Kim Long Motors Hue’s auto manufacturing and assembling complex will be also built in the Chan May-Lang Co EZ.
Chairman of Thua Thien-Hue Province People's Committee Phan Ngoc Tho, also being director of the Thua Thien-Hue Management Board of Industrial and Economic Zones, said the management board will help enterprises start the construction of projects and complete them on schedule.
Those projects are expected to create a motivation for development of the industrial sector of this economic zone as well as Thua Thien-Hue Province. — VNS