Tokai Kogyo builds $10m auto spare parts factory at Hoa Cam
Japan’s Tokai Kogyo Group yesterday kicked off construction of a plant worth $10 million to produce automobile spare parts in Vietnam’s central city of Danang, in a move to meet a soaring demand in Southeast Asia.The plant, to be located on a 47,000-square-meter site at Hoa Cam Industrial Zone, is the fifth of Tokai Kogyo in the world and the third in the Southeast Asian region, state media reported.
Construction of the plant, which is in line with Vietnam’s strategy to develop support industries, will be divided into three phases and is slated for completion by next March.
Automobile spare parts of the plant will be exported to other countries in the region and also supplied to Japanese carmakers such as Honda, Toyota, and Nissan and others.
(Source: Vneconomy)