Manufacturing News 15/01/2025, 15:06

Nearly 3,550 billion VND invested in electronics project in Nghe An

The project, covering an area of 15.58 hectares in the VSIP Nghệ An Industrial Park, is expected to employ a maximum of 48,000 workers.

Nearly 3,550 billion VND invested in electronics project in Nghe An

ICT (Nghe An) Co., Ltd., a subsidiary of Luxshare - ICT Group (China), was recently approved for an additional investment of 11.5 million USD for the Luxshare - ICT (Nghe An) project to increase the production capacity of consumer electronics products.

According to the latest adjusted investment registration certificate issued by the Management Board of the Dong Nam Nghe An Economic Zone, the total investment of the project is nearly 3,550 billion VND, equivalent to 151.5 million USD. Of which, 73.45 million USD is contributed capital to implement the project, and 78.05 million USD is mobilized capital.

The project covers an area of 15.58 hectares in the VSIP Nghe An, Hung Tay Commune, Hung Nguyen District, Nghe An Province. The current production capacity of the project is 62.86 million connection cables for smart electronic devices per year.

According to the investment certificate dated November 22, 2024, the project’s designed annual capacity includes: 150 million cables, connection devices, and computer peripheral devices; 271.64 million electronic components; 30.05 million smart watches; 15 million touch pens; 97.9 million household electronic products; 54.8 million communications devices; 2.83 million spare parts and accessories for automobiles and other motor vehicles; 9.5 million 3D printers; 10.2 million TWS wireless earbuds; and 220 million blood glucose meters.

The project's sector 1 came into operation in June 2020, just about 1 year after investing in Nghe An. For sector 2 (land plot No. 2), the investor plans to complete investment and construction procedures in January 2025; complete construction from February 2025 to December 2025; install equipment from January 2026 to March 2026; and officially operate in April 2026.

It is expected that after increasing the capacity, the maximum electricity consumption of the project will be about 100,000 kWh/month and employ about 48,000 workers. To serve the accommodation of experts and workers, the investor has also built 2 buildings for up to 2,274 people.

In addition to this project, Luxshare - ICT also invested in Luxshare - ICT (Nghe An) 2, located in VSIP Nghe An, specializing in manufacturing consumer electronic devices. Recently, the investor also increased the investment by 150 million USD to 358.5 million USD in this project.

VnEconomy / Translator: Hoàng Trúc
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