Vietnam's Nam Dinh gets a green signal $90M investment for high-tech aluminium alloy plant

The board members of Nam Dinh province's (Vietnam) industrial parks have granted approval for the investment in the development of an alloy factory by Kam Kiu Aluminium Products Group Limited, a leading aluminium extruder in Hong Kong (China). The total investment for the construction, which is going to be on close to 12.3 hectares in Mỹ Thuận Industrial Park, is estimated to be US$90 million. The factory, once operational, will be handled by Joint Wise Corporation, a subsidiary of Kim Kiều Aluminum Group.

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The plant will manufacture green aluminium alloy bars, high-quality electronic materials, and automobile accessories among others such as short aluminium bars for extrusion processes, aluminium computer keyboard accessories, aluminium profiles, shock absorber parts, automotive accessories and high-end electronic components.

The factory's production capacity of 183,000 tonnes of products per year is expected to significantly improve the quality of electronic components and automotive parts. Moreover, it will promote the growth of the advanced materials industry in Việt Nam, sparking excitement about the industry's future.

It is expected to operate for 47 years until September 30, 2071.

Basic construction is expected to be completed in the third quarter of 2027, followed by trial operations in the fourth quarter of 2027 and official operations beginning afterwards.

The presence of the factory will additionally highlight Nam Định's potential in the high-tech industrial sector and significantly contribute to the province's industrial production weightage, instilling a sense of pride in the local development.

In 2023 and the first 11 months of 2024, the management board of Nam Định's industrial parks has granted investment certificates for 32 secondary investment projects, including 27 foreign direct investment (FDI) projects, with a total registered capital of approximately $610 million.

Nam Dinh province in Vietnam has attracted $116 million worth foreign direct investment in the first half of 2024, which is, however, 51 per cent less than the corresponding period of the previous year.