The Truong Hai Auto Joint Stock Company (Thaco) on August 4 signed an agreement with Hyundai Motor Corporation of the Republic of Korea to jointly manufacture auto engines.
Under the agreement, Thaco and the RoK partner are to set up a joint venture to build an automobile engine manufacturing factory at the Chu Lai Open Economic Zone in the central province of Quang Nam.
The factory will be built on an area of 20 ha with a total investment of 165 million USD. It will be capable of producing 25,000 products per year.
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 litre diesel engine of Huyndai, which will be installed in light trucks or serve other industrial purposes, including export to southeast Asian countries./.
Under the agreement, Thaco and the RoK partner are to set up a joint venture to build an automobile engine manufacturing factory at the Chu Lai Open Economic Zone in the central province of Quang Nam.
The factory will be built on an area of 20 ha with a total investment of 165 million USD. It will be capable of producing 25,000 products per year.
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 litre diesel engine of Huyndai, which will be installed in light trucks or serve other industrial purposes, including export to southeast Asian countries./.
