Under theagreement, Thaco and the RoK partner are to set up a joint venture tobuild an automobile engine manufacturing factory at the Chu Lai OpenEconomic Zone in the central province of Quang Nam.
The factory will be built on an area of 20 ha with a total investmentof 165 million USD. It will be capable of producing 25,000 products peryear.
Construction of the project is scheduled to start in later this year and expected to be completed by the end of 2012.
It will focus on manufacturing three of five major parts of a 4 litrediesel engine of Huyndai, which will be installed in light trucks orserve other industrial purposes, including export to southeast Asiancountries./.