US $16.7 million invested to build a car parts factory in Hai Phong

US $16.7 million invested to build a car parts factory in Hai Phong

Signing land lease contract between DEEP C and PHA under the witness of leaders of Hai Phong city.

On June 21st, the Management Board of Hai Phong Economic Zone handed over the certificate of investment registration to Pyeong Hwa Automotive Co., Ltd (Korea) to carry out the project of building automobile parts factory at DEEP C II Industrial Zone in Dinh Vu - Cat Hai Economic Zone (Hai Phong).

The project of auto parts factory was implemented by the company on an area of 7 hectares with total investment capital of USD 16.7 million. As planned, the project will be started in the fourth quarter of 2018 and will be in operation in September 2019 with the launch of 7.5 million products (key set, door lock, hinges roof, fuel key), creating nearly 300 jobs for workers.

At the ceremony, Mr. Nguyen Van Thanh, Vice Chairman of Hai Phong People's Committee, said that the project is in line with the vision and orientation of the city in developing this industry, with the utilization of advantages of deep sea port as well as high quality human resources. Over the years, Korea has always been one of the leading capital cities in the world. Hai Phong City is always ready to create the most favorable conditions for investors to continue to invest in projects with modern technology, friendly with the environment.
Mr. Thanh highly appreciated Dinh Vu Industrial Park Joint Stock Company in concentrating on building DEEP C II Industrial Park with reliable infrastructure and attracting high quality projects into the city.
Pyeong Hwa Automotive (PHA) Co., Ltd. was established in 1985 based in Daegu, Korea. PHA is listed on the KOSDAQ Korea Securities Exchange and is a leading manufacturer in automotive parts. With a network of 18 factories and 5 laboratories around the world, PHA supplies parts for the world's top automakers such as BMW, Audi, Ford, General Motors, Hyundai, Kia, Volkswagen, Volvo ...
Speaking at the ceremony, Mr. Frank Wouters, General Director of DEEP C Industrial Zone was pleased to announce that PHA selected DEEP C II Industrial Park as the first plant investment site of the Group in Southeast Asia. . In addition to being one of the first investors here, the PHA will help attract more businesses from the same supply chain in Vietnam. The formation of industrial complex of automobile industry at DEEP C Industrial Complex is the foundation for developing the image of Hai Phong city as the automobile industry. Increasing domestic supply to export products will increase the added value and competitiveness of Vietnamese products.
"With the aim of expanding our global production, we have chosen DEEP C II to implement this project. We hope to create a new breakthrough for the PHA, along with a plan to expand the scale of the project in the near future, "said Lee Jea Seung, Pyeong Hwa Chairman. Automotive said.

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