South Korea’s Hyundai Ecovina to invest $335 million in Quảng Ngãi

South Korea’s Hyundai Ecovina to invest $335 million in Quảng Ngãi

South Korea’s HD Hyundai Ecovina have been granted an investment licence for its industrial park on 101.6ha with total capital of US$335 million in Dung Quất Economic Zone, marking its first licence approved since signing a share purchase agreement with Doosan Enerbility (Doosan Vina) worth 290 billion won ($213 million) last August.

An investment licence has been granted to South Korea’s HD Hyundai Ecovina to develop an industrial park on 101.6ha with total capital of US$335 million in Dung Quất Economic Zone. — Photo courtesy of Dung Quất EZ and IPs Management Board

A source from the management board of Dung Quất Economic Zone and Industrial Parks said this will be the 17th licence that has been granted to the heavy industries investor in the province.

HD Hyundai Ecovina shared that it plans to transform the site into a global manufacturing centre specialising in liquefied natural gas plant modules, ships, thermal power boilers and port cranes that meet tightened environmental regulations from the International Maritime Organization.

Formerly operating under the name Doosan Vina since 2009, the South Korean heavy industries manufacturer in Dung Quất Economic Zone used to produce made-in-Việt Nam goods including boilers, desalination plants and cranes for export to 35 countries.

The central province has approved 26 investment proposals and projects worth VNĐ104 trillion ($4 billion). 

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