Luxshare-ICT (Nghe An) Co., Ltd. plans to inject an additional 208.5 million USD into its project in Nghe An Province to produce new technology products.
According to a recent Environmental Impact Assessment (EIA) report, Luxshare-ICT (Nghe An) received an investment registration certificate for its project, Luxshare-ICT (Nghe An) 2, on October 2, 2022. In its third adjustment to the certificate in late November 2024, the company will raise its investment from 150 million USD to 358.5 million USD.
The project spans 40.6 hectares in the VSIP Nghe An Industrial Park.
The EIA outlines plans to increase the project's total design capacity from 74 million to 108.83 million products per year, including 86 million electronic components (such as cables for smart devices, LED lighting systems, and earphone casings). The project will also introduce five new product lines: 400,000 smart home vacuum cleaners, 1.9 million cameras and Wi-Fi routers, 6.2 million smartwatches, 230,000 doorbells, 12 million earphones, and 2.1 million USB cables.
The project will expand its production lines from 176 to 360. It is expected to employ 25,000 workers, comprising 22,500 production workers and 2,500 office staff.
Additionally, the project includes constructing worker accommodations within the VSIP Nghe An Industrial Park to house approximately 12,474 people. This includes accommodation for about 1,010 foreign experts and 11,464 Vietnamese workers.
The project consists of four components. The first component is expected to become operational in December 2024, the second in September 2025, and the remaining two by June 2026.
As per the EIA, the investor will transfer around 15,000 tons of machinery and equipment for the project, primarily from China.
The project will also introduce two new business activities: leasing pre-built factories and conducting scientific research and technology development in technical science and technology fields to directly support the objectives of Luxshare-ICT (Nghe An) 2.
Luxshare is one of the largest manufacturers for Apple. Luxshare ICT Vietnam specializes in producing electronic components for major technology corporations, including Apple, Samsung, and Huawei. Besides its investments in Nghe An, Luxshare-ICT also operates in Bac Giang.
