Thaco starts work on four major projects in Quang Nam
Thaco starts work on four major projects in Quang Nam
Truong Hai Auto Corporation (Thaco) on March 24 began work on four major projects in Quang Nam Province---the creation of an agricultural-forestry industrial park, the expansion of Thaco-Chu Lai Mechanical-Automotive Industrial Park and the construction of a wharf for 50,000-ton vessels and a residential area for workers, the local media reported.
These projects, which will all be built at the Chu Lai Open Economic Zone, requires a total cost of over VND15 trillion (US$646.8 million).
Specifically, the agricultural and forestry industrial park project will initially focus on developing value chains for fruit and forestry products, with services ranging from researching seedlings to developing farming, harvesting, processing and distribution technologies and methods, thereby creating a raw material area for the Central and Central Highlands regions, Laos and Cambodia.
It will also be home to livestock farming areas, factories for producing agricultural equipment and cold-storage facilities.
The industrial park will cover 451 hectares of land and requires an estimated investment of more than VND8.1 trillion.
Once operational, it is expected to attract multiple domestic and foreign investors to the Chu Lai Open Economic Zone and to generate jobs for 20,000 workers, said Thaco Chairman Tran Ba Duong.
Meanwhile, the project to expand the Thaco-Chu Lai Mechanical-Automotive Industrial Park from the current 210 hectares to 325 hectares at a total cost of VND1.6 trillion is aimed at developing automotive supporting industries. Thaco anticipates increasing the proportion of locally made automobile parts to more than 40%, meeting the requirements for export to other ASEAN markets by 2020.
On the same day, Thaco also began constructing a 790-meter wharf for 50,000-ton vessels, which needs VND2.6 trillion in investment. The wharf, once in place, is expected to reduce goods transport fees, thus attracting more investors to the Chu Lai Open Economic Zone in the coming years.
Further, a residential area for workers and resettlement will be developed on 30 hectares of the economic zone. The VND2.76-trillion project will provide accommodation to some 5,000 local workers and residents.
Speaking at the groundbreaking ceremony for the projects, Prime Minister Nguyen Xuan Phuc praised Thaco’s achievements and its latest projects in the Chu Lai Open Economic Zone.
He said he expected Chu Lai to become an economic hub in the central region, which is not only a center for producing automobiles and automotive parts, textiles and garments and hi-tech agricultural products but is also a hub for logistics and tourism services, in association with Chu Lai seaport and airport.
The economic zone will also help turn Vietnam into a provider of high-quality agro-forestry products, meeting the heavy demand from China, other ASEAN countries, northeastern Asia and G7 and G20 countries, the Government leader added.
He called for further support from the local authorities for enterprises operating in the province.
Quang Nam Chairman Dinh Van Thu said that the provincial government’s main priority was to develop Chu Lai into a multisector industrial center in the shortest amount of time. Thaco’s projects are crucial to the sustainable development of the economic zone.
He pledged to create the most favorable conditions for Thaco and other firms to execute projects in the province.
