Japan firm to build automobile spare parts factory in Da Nang

Japan's Tokai Kogyo Group has announced that it plans to build an automobile spare parts factory in the central city of Da Nang.

The site will occupy a 2-5ha area. The project has a total capital investment of about US$20 million. The plant will supply parts to leading car makers such as Honda, Toyota, Nissan and General Motors.

Viet Nam will be the sixth country chosen by Tokai Kogyo Group to produce auto spare parts.

The Tokai Kogyo project is in keeping with the city's plans to develop support industries, said Phung Tan Viet, deputy chairman of the city's People's Committee.

There are currently 60 Japanese investment projects in the city – accounting for 20 per cent of the city's total foreign direct investment.

vietnamnews

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