Business

Bridgestone starts work on Hai Phong plant

Bridgestone Vietnam received an investment certificate to build a car tyre manufacturing plant in Dinh Vu Industrial Zone.
Bridgestone Tyre Manufacturing Vietnam, an affiliate of Japan'sBridgestone Corporation, ln Feb. 1 was granted an Investment Certificateto build a car tyre manufacturing plant in Hai Phong City's Dinh VuIndustrial Zone.

Speaking at the hand-over ceremonythat was attended by high ranking leaders of the city's members of theEconomic Zone Authority, Duong Anh Dien, chairman of the city People'sCommittee, said the tyre plant is the biggest FDI (foreign directinvestment) project in the city so far.

Yazaki Susumu, general director of Bridgestone Tyre ManufacturingVietnam (BTMW), said the 575 million USD plant would have a productioncapacity of 24,700 units per day. He said production would start in thefirst half of 2014.

BTMW is the fifth Japanese firm to invest in the Hai Phong IZ, afterNakashima (propeller production), RK Engineering (steel tankproduction), SIC (LAS production) and Shin-Etsu (rare earth magnetproduction).

The IZ is currently in the process of expanding to 377ha. It has attracted 1.5 billion USD in investment, with Japanese firms making up 45 percent of the total capital. /.
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