Business

Tan Chong Group to invest extra 50 million USD in Da Nang

TCIE Vietnam Company, a member of Malaysia’s Tan Chong Motor Group, will build a new car factory in Hoa Khanh industrial zone in the central city from 2019 with total investment of 50 million USD.
Tan Chong Group to invest extra 50 million USD in Da Nang ảnh 1A worker welds a car body at TCIE Vietnam’s Nissan Automobile factory in Hoa Khanh Industrial Zone. (Photo: VNA)

DaNang (VNA) - TCIE Vietnam Company, a member of Malaysia’s TanChong Motor Group, will build a new car factory in Hoa Khanh industrial zone inthe central city from 2019 with total investment of 50 million USD.

Thecity’s Investment Promotion Agency (IPA) confirmed that the company hascompleted procedures to soon commence the project.

Theagency said TCIE Vietnam had invested 55 million USD between 2013-2017 toproduce the first locally-assembled Nissan Sunny and Nissan X-Trail SUV carmodels at the Da Nang-based factory – the first and only Nissan Sunny assemblyplant in central Vietnam.

Ina meeting with the city’s leadership last month, TCIE said it would increaseinvestment to 150 million USD in the coming years to promote production andsales of cars in the central and nationwide market.

TCIEsaid it sold 3,500 Nissan Sunny models in 2018 and contributed 2.2 trillion VND(nearly 95 million USD) to the city’s budget.

Thecompany plans to produce 5,100 cars with an estimate contribution of 110million USD to the city’s budget in 2019.

TCIEalso plans to produce Nissan vans and Nissan trucks in the near future.-VNA
VNA
#TCIE Vietnam Company #Tan Chong Motor Group #Hoa Khanh industrial zone #Investment Promotion Agency #Nissan Sunny #Nissan X-Trail SUV #Da Nang #Vietnam #VietnamPlus #Viet Nam News Da Nang
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