Da Nang grants investment licence

The Hi-Tech Park management board in central Da Nang City has granted an investment licence for Niwa Foundry company from Japan with a total capital of US$21.87 million.

The project covers 2ha and will manufacture casting parts for hydraulic components and high precision machining technologies.

It will begin production next year with 2.4 million products per year.

Last year, Tokyo Keiki Inc invested in a $40 million project to produce electro-magnetic and hydraulic equipment in the park.

The city currently has 60 investment projects from Japan, worth $320 million.

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