Korean Corporation Builds Aircraft Engine Spare Part Factory in Vietnam
Hanwha Techwin is seeking opportunity to expand capacity through opening factory abroad and they chose to set up factory in Vietnam.
Hanwha Techwin Corporation from Korea has selected a 10 hectares site on the suburb of Hanoi to build a factory manufacturing aircraft engine spare parts.
The Corporation is now waiting for the Vietnamese Government to approve the project. If licensed, Hanwha Techwin will start construction of the factory in August 2017 and begin operation in the second quarter of 2018. This factory covers an area of 6ha, 8 times more than a regular football field.
In order to implement the plan to raise revenue from aircraft engine spare parts to 900 million USD, Hanwha Techwin is seeking to expand capacity through opening factory abroad. In which, among many areas targeted by Hanwha Techwin, Vietnam was selected for having a suitable logistics environment and high competitive advantage in terms of production costs.
This technology corporation is expanding its engine parts businessby winning large contracts from leading global aircraft engine manufacturers such as GE, Pratt & Whitney (P&W) and Rolls-Royce.
Earlier in April 2017, Hanwha Techwin Corporation started construction of Hanwha Techwin Security factory in Que Vo Industrial Park, Bac Ninh province. Phase 1 of this 100-million-USD project will manufacture CCTV camera, storage devices, high technology security surveillance devices.