Nam Định Approves Development of \$90 Million Aluminium Alloy Factory
The industrial parks management board of Nam Định Province has approved the development of an aluminium alloy factory by an investor from Hong Kong (China). The \$90 million facility will be constructed on a 12.3-hectare site in the Mỹ Thuận Industrial Park and will be operated by Joint Wise Corporation, a subsidiary of the Kim Kiều Aluminum Group.
The new factory will primarily produce green aluminium alloy bars, high-quality electronic materials, and aluminium automobile accessories. Additional products will include short aluminium bars for extrusion, aluminium computer keyboard accessories, aluminium profiles, shock absorber parts, automotive accessories, and high-end electronic components. With a production capacity of 183,000 tons per year, the facility is expected to enhance the quality of electronic components and automotive parts while promoting Vietnam's advanced materials industry.
The factory is expected to operate for 47 years, with construction scheduled for completion in the third quarter of 2027. Trial operations are planned for the fourth quarter of 2027, followed by full-scale operations soon after.
The presence of this factory will help strengthen Nam Định's potential in the high-tech industrial sector and contribute to the province's industrial production value and economic development. Between 2023 and the first 11 months of 2024, Nam Định's industrial parks management board has granted investment certificates for 32 secondary investment projects, including 27 foreign direct investment (FDI) projects, totaling around \$610 million in registered capital.
