Chinese company to build aluminum factory in Vietnam
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Innovation Precision Vietnam, a unit of a Chinese manufacturer, has received licenses to build a $165 million aluminum factory in the central province of Nghe An.
The company, a subsidiary of aluminum products manufacturer Shandong Innovation Metal Technology, will build a plant with the capacity to produce 100,000 tons of aluminum a year, according to Nghe An’s People’s Committee.
It is set to begin operations in October next year and will create 1,500 high-skilled jobs.
Innovation Precision Vietnam received all its licenses within only two months of its representatives first entering the province to consider investing.
This will be the first plant that Shandong Innovation Metal Technology has built outside of China.
Shandong was established in 2002 and is among the 500 biggest manufacturers in China.
Questions & Answers
Q.What kind of jobs will the new factory create?
What kind of jobs will the new factory create?
The new aluminum factory is expected to create 1,500 high-skilled jobs. This is stated in the article as one of the project's outcomes.
Q.Where is the new factory being built?
Where is the new factory being built?
The factory is being built in the central province of Nghe An, Vietnam. This location was confirmed when Innovation Precision Vietnam received its licenses there.
Q.When is the new factory expected to start operating?
When is the new factory expected to start operating?
Operations at the new factory are set to begin in October next year. This is the timeline provided in the article for its commencement.
Q.What is the planned production capacity of the factory?
What is the planned production capacity of the factory?
The new plant will have the capacity to produce 100,000 tons of aluminum annually. This figure was confirmed by Nghe An’s People’s Committee.