Orion to Build New Factory in Vietnam
Korea’s Orion Corporation plans to build its second confectionary factory in Vietnam’s northern Bac Inh province, with total investment of US$40 million.
Orion has signed a deal to lease a lot at Yen Phong Industrial Park for the plant. This is the first Korean project in the park.
The factory is expected to produce Orion’s famous ‘Chocopie’, as well as other snacks, once operational from September 2008.
The Korean maker hoped that its first plant in southern Binh Duong province, which was opened late 2006, will generate estimated US$53 million worth of products yearly.
As Orion’s key production base in Southeast Asia, some 50 per cent of the Binh Duong plant’s products are available for Vietnam’s market while the rest come to other regional countries, Middle East and India.
Orion Corp now plans to expand into entertainment services, including cinemas and restaurants.
The Yen Phong IZ has so far attracted over 10 domestic and foreign invested projects, mainly from Japanese and Chinese companies such as the Fuji and the Chuangsheng Optical. (Vietnam & World Economy)
Vietnamese
