Groundbreaking for first aircraft engine parts factory in VN
15:05 | 21/09/2017
VGP – The first aircraft engine parts factory in Viet Nam was ground-broken on September 21 at Hoa Lac Hi-tech park in Ha Noi. 

The groundbreaking ceremony of the Hanwha Aero Engines plant

This was the first project of Hanwha Techwin (a company from the Republic of Korea) to build a plant to manufacture aircraft engine parts in Viet Nam. The event is of great significance as Viet Nam and the RoK are celebrating the 25th anniversary of diplomatic ties (1992-2017), said Minister of Science and Technology Chu Ngoc Anh. 

Minister Ngoc Anh said that the Government issued Decree 74/2017/ND-CP, dated June 20, 2017 on provisions for specific policies on Hoa Lac hi-tech park. The document offers a legal foundation, an open and transparent investment environment; minimizes investment costs; and provides the most favorable preferences for investors. 

The Minister hoped that Hanwha Techwin would help the hi-tech park to attract other peers from the Rok and other countries to invest and do business, thus contributing to improving scientific and industrial potentials of the northern region in particular and Viet Nam in general. 

The Hanwha Aero Engines plant has a total investment of US$ 200 million and was designed to expand scale to US$ 260 million. It covers a total area of 97,000 meter square. 

As scheduled, by late April, 2018, the first plant will be completed and put in to operation. The second one will be built and finalized by 2022. The project expects to generate about 1,000 jobs. 

Recently, Hanwha Techwin got large-scale contracts from three world’s leading aircraft engine part producers namely General Electric, Pratt & Whitney and Roll-Royce./.

By Kim Loan 

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