Bosch’s extra $208 million for Dong Nai plant
Bosch’s extra $208 million for Dong Nai plant
Robert Bosch Vietnam, a member of German Bosch Group, last Friday announced a plan to invest an extra US$208 million, or 160 million euros, in the local market to raise the capacity of its factory in the southern province of Dong Nai.
The company will execute the fresh investment project over three years to 2016 to expand and increase the capacity of the Continuously Variable Transmissions (CVT) push belt production line of the Bosch plant in Long Thanh Industrial Park in Dong Nai.
The additional capital takes the total investment for Bosch Vietnam’s plant in Long Thanh to US$340 million or 260 million euros, which allows the company to localize all the CVT push belt production processes. With the expansion of the current plant, Bosch Vietnam will employ about 500 new workers for the facility from now until 2015.
Vo Quang Hue, managing director of Bosh Vietnam, said nearly 1,000 staff members now are working at the Long Thanh plant, with more than 580 persons coming from Dong Nai’s districts and towns.
Apart from the fresh investment, Robert Bosch Vietnam also announced a sum of US$1 million or 760,000 euros to be spent on the technical training program in line with German vocational training standards in Vietnam. Bosch Vietnam has signed agreements with the German Industry and Commerce (GIC/AHK) and Lilama 2 Technical and Technology College to jointly deploy a Technical Industrial Apprenticeship training program to meet the rising demand for skilled workers at home.
The trainees recruited by Bosch will be studying for three years and a half by learning theory at Lilama 2 and practicing at the Bosch plant in Long Thanh. They will be subject to free school tuitions and be given monthly allowances.
Graduates will be granted two certificates, one of Germany and the other of Vietnam which are recognized globally, and they then could be employed by Bosch Vietnam. Twenty-four trainees of the first intake started their training early last month.
Hue remarked the extra investment affirms the importance of Vietnam to Bosch Group as an automotive hub.
With the extra investment, Bosch not only raises the production capacity but also develops local human resources to ensure a continued success for the company, he said.
The group has been present in Vietnam since 1994 through representative offices and became a 100% foreign-invested company in April, 2008. Bosch Vietnam posted US$286.4 million (220.3 million euros) in total revenue in 2012.
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