Illustrative photo (Source: VNA)

Quang Nam (VNA) – The Truong Hai Auto Corporation (Thaco) on February 21 launched its agricultural machine factory in Chu Lai open economic zone in the central province of Quang Nam.

The factory covers 12,500 square metres and has an investment of 500 billion VND. It is designed to manufacture tractors with a capacity from 18HP-120HP, along with high-quality combine harvesters and other agricultural equipment.

In the first phase, it has a capacity of manufacturing 2,000 tractors per year, 3,000 sets of cultivation equipment and 1,000 combine harvesters.

The factory’s technology is transferred from LS Mtron Group, a leading agricultural machine manufacturer in the Republic of Korea.

It will use domestic material and spare parts, while importing high technology parts that are not available in the country from the Republic of Korea and ASEAN countries.

In 2018, Thaco will also focus on developing passenger cars, while launching the first phase of Thaco-Mazda factory with a capacity of 50,000 units each year on March 24, along with a new van factory to produce 100,000 units per year.

The firm will also partner with other companies to develop support industry and expand its factories to 138 hectares in 2018.-VNA