Hanwha Techwin Starts Building Aircraft Engine Parts Plant in Vietnam

Tuan Minh

23:15 22/09/2017

BizLIVE - The plant is part of Hanwha Techwin’s plan to grow sales of civilian aircraft engine parts to about $900 million and meet demand from world-class airplane engine manufacturers.

Hanwha Techwin Starts Building Aircraft Engine Parts Plant in Vietnam

A Rolls-Royce aircraft engine. Photo: FT

South Korea-headquartered Hanwha Techwin on September 21 kicked off construction of a factory to manufacture aircraft engine parts in Hanoi, making it the first project of its kinds in Vietnam.
Hanwha Aero Engines factory, located in the Hoa Lac Hi-tech Park on the outskirts of Hanoi, will churn out parts and components for the world’s top aircraft engine manufacturers such as General Electric (GE), Pratt & Whitney (PW) and Rolls-Royce.
The Management Board of the hi-tech park in July granted a license to the South Korean tech company’s project worth $200 million. The project is eligible to be expanded to $260 million on an area of 9.7 hectares in a second phase.
The first plant is scheduled for operation at end-April next year and two others will be put in place in 2020.
Business Korea in June reported that Hanwha Techwin had chosen Vietnam among many candidate regions for the establishment of an overseas engine parts manufacturing factory thanks to the country’s nice logistics environment and high cost competitiveness.
As part of its plan to grow sales of civilian aircraft engine parts to about $900 million, Hanwha Techwin is expanding its engine parts production capacity through the establishment of overseas plants by 2025.
Hanwha Techwin in April this year started constructing a plant worth $100 million in a Vietnamese northern province to produce video surveillance devices, in a move to expand its manufacturing capacity.

TUAN MINH

Từ khóa: Hanoi, Rolls-Royce

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