Quang Ngai (VNA) - HD Hyundai Eco Vina Co., Ltd. on August 15 broke ground on a 116 million USD environmentally friendly independent tank manufacturing project at Dung Quat Economic Zone, expanding its heavy industrial manufacturing operations in central Quang Ngai province.
The project, covering 26.7 hectares, is scheduled to be completed and begin production in April 2027.
It will establish independent tank manufacturing as one of HD Hyundai Eco Vina's two strategic business pillars alongside port cranes, while continuing to develop its large-scale industrial module manufacturing capabilities.
Permanent Deputy Prime Minister Pham Gia Tuc attended the ground-breaking ceremony, together with representatives from ministries and agencies, Military Region 5, the Korean Consulate General in Da Nang and provincial authorities.
Choi Seung-hyun, General Director of HD Hyundai Eco Vina, said the company currently focuses on heavy industrial equipment manufacturing, particularly port cranes and large-scale industrial modules for the energy, refining and petrochemical, and heavy industry sectors.
Its products have been supplied to domestic and international projects, contributing to Vietnam's mechanical engineering industry's participation in global supply chains.
According to the company, the new project will focus on green technological innovation, emissions reduction and sustainable development, while contributing to the formation of a modern industrial ecosystem in Quang Ngai.
The investment follows HD Hyundai's completion of procedures to take over and restructure the project from Doosan Vina.
Chairman of the Quang Ngai provincial People's Committee Nguyen Duc Tam described the project as a new milestone in attracting foreign direct investment and developing mechanical engineering and the marine economy at the Dung Quat Economic Zone.
The development orientation is consistent with the green growth, emissions reduction and sustainable development strategies being pursued by the Government and Quang Ngai province, he said.
A significant component of the investment is its employment commitment. HD Hyundai Eco Vina has pledged to retain 1,500 existing workers while providing further training and recruiting another 1,500 local employees.
Tam said the commitment would not only generate employment and income but also promote supporting industries, increase budget revenue and strengthen the position of Dung Quat Economic Zone and Vietnam's mechanical engineering sector.
Provincial authorities view the project as part of Quang Ngai's efforts to broaden its industrial ecosystem and attract foreign investment associated with advanced manufacturing and sustainable production.
For HD Hyundai Eco Vina, the facility will diversify its operations by combining independent tank production with existing capabilities in port cranes and industrial modules, while pursuing greener and lower-emission manufacturing technologies./.
VNA
