Business

Piaggio Vietnam adds 75 mln USD to investment in Vinh Phuc

The Piaggio Vietnam Co. Ltd has raised its investment in the northern province of Vinh Phuc by 75 million USD to 165 million USD to expand operations.
Piaggio Vietnam adds 75 mln USD to investment in Vinh Phuc ảnh 1Binh Xuyen Industrial Park in Binh Xuyen district, Vinh Phuc province (Photo: VNA)
VinhPhuc (VNA) – The Piaggio Vietnam Co. Ltd has raised its investmentin the northern province of Vinh Phuc by 75 million USD to 165 million USD toexpand operations.

TheItalian-invested motorcycle producer received a certificate for its investment adjustmentregistration from the Vinh Phuc management board of industrial parks onFebruary 21.

Thecompany opened a motorcycle assembly plant in the Binh Xuyen Industrial Park ofBinh Xuyen district in June 2009. In March 2012, it unveiled an engineproduction factory also in this industrial park.

Thetwo projects cover over 18.9ha and had combined initial investment of 90million USD.

Tocontinue developing production and business activities, Piaggio Vietnam hasdecided to merge these projects and invest 75 million more USD to raise motorcycle production and assembly capacity to400,000 products each year from 250,000. Engine production will also increaseto 400,000 units annually from 300,000./.
VNA
#Piaggio Vietnam #Vinh Phuc #Binh Xuyen Industrial Park #motorcycle production #investment in Vinh Phuc #industrial parks #updated Vietnam news #Vietnamplus #Vietnam News Agency Vinh Phuc
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