Management Board gives green light to $45 million project.
The Management Board of the Saigon Hi-tech Park has issued an investment license to Schneider Electric to build a factory.
Schneider Electric will merge its existing production plants at the Bien Hoa Industrial Zone 1 and the Amata Industrial Zone into the new, larger plant, which is expected to come into operation at the end of 2016. The total capital of the project is $45 million, on an area of 12,000 sq m in the first phase. The new plant is expected to be one of the largest factories of Schneider Electric in its global supply chain of over 230 factories.
According to a report it released in April, the Asia-Pacific region, including Vietnam, contributed the most to its business performance in the first quarter of 2015, at up to 28 per cent of total revenue. The new plant in Vietnam will apply a new manufacturing model, use energy management solutions, and manage the business cycle. The plant is also equipped with modern machinery and equipment for the efficient production of smart house and traditional electronic items.
“This investment reaffirms the commitment of Schneider Electric Vietnam,” said the CEO of the Schneider Electric Manufacturing Vietnam Co., Mr. Sirichai Chongchintaraksa. “We are extremely proud to contribute to ‘Made in Vietnam’ products and have a skilled workforce to produce products of high quality for customers in Vietnam and globally.”