Leaders of South Korea’s Doosan recently met officials from the Ministry of Planning and Investment and Dung Quat Economic Zone to confirm their investment plan to manufacture heavy equipment in the zone.
Last year, the company worked with authorities from the zone in the central province of Quang Ngai to look for a site to build the large-scale factory. Doosan wanted an area of between 70 and 100 hectares and the site should be close to a seaport and with good infrastructure to ensure easy road access. It will be done in two phases, of which the first will be carried out this year.
At an earlier meeting, Doosan leaders chose the project site to the east of the zone. Doosan also required a port area to build a berth for handling materials and equipment.
The facility will manufacture power generation equipment, seawater treatment equipment, forklifts and construction machines capitalised at around US$200 million.
Doosan expects to export 80% of its output and this will be the largest machine tool manufacturing project in Vietnam. It will also be crucial for the Dung Quat Economic Zone in attracting satellite investment projects.