The factory covers 63,600m2 and has a total investment of over VND300 billion (US$12.9 million). It is scheduled to begin operation in early 2020 and is set to produce 450,000 products per year.
Executive Director of ESMO VINA, Lee Hyun Chul said that the ESMO factory in Vietnam is a new stride of the ESMO Group in entering the Southeast Asian market.
The ESMO factory in Vietnam was established and built to improve production capacity and meet the requirements from new orders, he noted.
Lee Hyun Chul also expressed his hope that the factory will create more stable jobs for local people, contributing to promoting socio-economic development of Ninh Binh province and enhancing its competitiveness.
ESMO factory also plans to increase the amount of products supplied to automobile manufacturing enterprises that are growing rapidly in number in Southeast Asia such as Hyundai Thanh Cong, Vinfast, Kia, GM Deawoo, and Truong Hai.
Addressing the inauguration ceremony, Vice Chairman of Ninh Binh provincial People’s Committee Nguyen Ngoc Thach said that the province will continue to reform its administrative procedures and institution to attract more investors, particularly RoK investors.