HÀ NAM — Construction on the Châu Giang Industrial Cluster, worth VNĐ475 billion (US$21 million), kicked off on Friday in the northern province of Hà Nam.
Financed by Hồng Đức Automobile Manufacturing Industry JSC, the cluster covers an area of nearly 40ha in Duy Tiên Town. It aims to lure more investors to the province, thus speeding up provincial socio-economic development.
The same day, Hồng Đức Automobile Manufacturing Industry JSC also started construction of its automobile assembly and manufacturing factory in the cluster.
The 22ha factory has a total investment capital of over VNĐ2.27 trillion ($120 million). Its goal is to produce and assemble cars with up to nine seats, provide maintenance and repair services for automobiles and other motor vehicles.
The two projects are slated for completion in late 2021.
In his speech at the ground breaking ceremony, the provincial People's Committee chairman Nguyễn Xuân Đông praised the two projects, saying that once operational, they will help meet the needs of the market and contribute to improving the province's industrial production value chain.
Đông said he hoped that the projects would also help attract supporting enterprises in the automobile industry to invest in the locality, contributing to the State budget and creating more jobs.
The chairman also requested relevant departments and sectors to create the most favourable conditions for the investor in implementing its projects. — VNS
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