Construction on a US$24.6-million auto parts factory is under-way in the northern Thai Binh Province’s Tien Hai Industrial Zone with completion expected in July 2019.– Photo baodautu.vn

Construction on a US$24.6-million auto parts factory is under-way in the northern Thai Binh Province’s Tien Hai Industrial Zone with completion expected in July 2019.

Financed by the Japanese Toyoda Gosei Group, the 11.3ha-factory will manufacture airbags and leather steering wheels which will be mainly exported to Japan, the US and Europe. Work on the factory kicked off early this month, baodautu.vn reports.

Once operational, the factory is expected to create about 1,500 local jobs. The company said it believes that the project will contribute to accelerating the development of Thai Binh Province as it will create more jobs for local people and improve their skills.

Established in 1949 and headquartered in Kiyosu, Japan, Toyoda Gosei is a leading manufacturer of rubber and plastic automotive parts and LEDs. Today, the group provides a variety of high-quality products internationally, with a network of some 100 plants and offices in 18 countries and regions. – VNS