Foxconn pours $1.5 billion into Thanh Hoa to produce for Apple

According to VTV's news bulletin on February 13, 2021 and information in Thanh Hoa newspaper, Nghi Son – Thanh Hoa Economic Zone is preparing to welcome more large investors with a registered capital of more than 3 billion USD. Among them is the presence of Foxconn with an investment of up to 1.5 billion USD.

Specifically, the projects are as follows:

1. AVG Capital Partners Group (Russia) – $1.4 billion.

With the scale of a pig farm of 5 million pigs/year, an area of at least 1,000 hectares; in which, there are 43 commercial pig farms and 3 hybrid pig farms; a supporting feed factory with a capacity of 2 million tons/year; slaughterhouses and processing factories with a river yield of 0.6 million tons/year with a total area of about 400 hectares.

2. Foxconn Corporation – $1.5 billion.

The scale is about 150 hectares to build factories with a total investment of 1.3 billion USD, export revenue of about 10 billion USD/year, employing about 100 – 150,000 workers.

3. Asia Asset Management and Investment Joint Stock Company (ASHICO), Saigon Newport Corporation – Newport Marine Services Joint Stock Company (SNP-TCO) and Northern Newport Maritime Joint Stock Company (TCM) propose to invest in the North Central Logistics center and industrial park infrastructure (IP) in Nghi Son – Thanh Hoa Economic Zone with a total investment of 6,000 billion VND, about 395 hectares in Mai Lam communes and wards, Tinh Hai, Hai Yen (Nghi Son Town). In which, 370 hectares of land in Industrial Park No. 6 and 25 hectares of land belong to the seaport planning. (This Friday will receive the investment certificate).

4. The factory of Duc Giang Chemical Group is 2,400 billion VND, is actively clearing the ground to prepare to start construction in industrial park No. 15, Nghi Son town.

After more than 13 years of construction and development, Nghi Son Economic Zone and Thanh Hoa Provincial Industrial Zones (hereinafter referred to as Nghi Son Economic Zone) have actively contributed to the economic restructuring, increasing budget revenue, promoting the socio-economic development of Thanh Hoa province. This is the basis for the Politburo to issue Resolution No. 58 NQ/TW dated August 5, 2020 on the construction and development of Thanh Hoa province to 2030, with a vision to 2045.

Referring to Nghi Son Economic Zone is referring to Nghi Son Refinery and Petrochemical Plant – a key project of the country, with a total investment of about 9 billion USD. The factory has been operating in commercial production, contributing significantly to changing the appearance of Nghi Son Economic Zone, increasing budget revenue for Thanh Hoa province. In addition to this key project, thanks to the drastic participation of the leaders of Thanh Hoa province and the efforts to invite investment of the leaders of Nghi Son Economic Zone Management Board, in recent years, there have been many billion-dollar projects continuing to invest in Nghi Son.

Notable among these are 2 "super projects" of Nghi Son 1 and 2 thermal power plants, with a total investment of nearly 4 billion USD. In particular, Nghi Son 1 Thermal Power Plant includes 2 units (total investment of about 1 billion USD with 85% ODA loan of the Japanese Government), total installed capacity of 600 MW, electricity output of about 3.6 billion KWh/year connected to the national grid in 2013; and Nghi Son 2 Thermal Power Plant (capacity 1,200 MW) has a total investment of 2,793 billion USD, started construction in August 2018, is expected to be completed in July 2022.

In addition, another "super-huge" project was signed by a business from the US with the leaders of Thanh Hoa province at the "Thanh Hoa Investment Promotion Conference 2020" which took place in June 2020. Accordingly, Millennium Energy Group (USA) will invest in a power center here – LNG (liquefied natural gas – natural gas liquefied when deeply cooled), with a total investment of up to 7 billion USD.

Source: vietnambusinessinsider.vn