Work begins on Vietnam’s first aircraft engine parts factory
A ground-breaking ceremony for Vietnam’s first aircraft engine parts factory, Hanwha Aero Engines, was held at the Hoa Lac High-tech Park in Hanoi on September 21.
At the ground-breaking ceremony for Vietnam’s first aircraft engine parts factory, Hanwha Aero Engines. (Photo: vnexpress.vn)
Hanoi (VNA) – A ground-breaking ceremony for Vietnam’s firstaircraft engine parts factory, Hanwha Aero Engines, was held at the Hoa LacHigh-tech Park in Hanoi on September 21.
The nearly 97,000sq.m plant invested by Hanwha Techwin Co., Ltd from theRepublic of Korea (RoK) has total investment of 200 million USD. The firstfacility is expected to become operational in next April and the constructionof the two others will be completed in 2022.
The project will generate jobs for 1,000 local labourers.
Speaking at the ceremony, Minister of the Science and Technology Chu Ngoc Anhhighlighted that the event is significant as the two countries are celebrating the25th anniversary of diplomatic relations.
Hanwha Techwin will create a knock-on effect, helping the Hoa Lac High-techPark attract more foreign investors in the coming time, Anh said, adding thatthey will make major contributions to enhancing scientific and industrial potentialin the northern region in particular and Vietnam in general.
The company has recently received large orders from world’s leading aero engineproducers like General Electrict, Pratt & Whitney and Roll-Royce. TheHanwha Aero Engines plant, with competitive production capacity, is expected topromote the development of Vietnam’s aero industry in the future.
The Ministry of Science and Technology has ordered the management board of theHoa Lac High-tech Park to complete the construction of basic infrastructure aswell as mechanisms and policies, creating favourable conditions for investors.
From the outset of the year, the board granted investment licenses to threeprojects with total registered capital of over 5 trillion VND (219.9 million USD)and the RoK’s aircraft engine parts plant is standout among them.
Currently,the board is pushing negotiations to lure a high-tech project worth more than500 million USD from Japan as well as major projects of domestic groups.-VNA
Prime Minister Nguyen Xuan Phuc has approved updated plans for Hoa Lac High-tech Park, to be completed by 2030 in Hanoi’s outlying districts of Thach That and Quoc Oai.
The Hoa Lac High-tech Park’s management board has sent a report to the Ministry of Planning and Investment requesting 364 million USD for land clearance and infrastructure construction.
The Japan International Cooperation Agency (JICA) has signed an official development assistance (ODA) loan agreement worth 12.865 billion JPY (117.8 million USD) for the Hoa Lac Science and Technology City Development Project.
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At the ground-breaking ceremony for Vietnam’s first aircraft engine parts factory, Hanwha Aero Engines. (Photo: vnexpress.vn) 
