US$190 Mln Chip Plant to Be Built in Southern Vietnam
The Saigon Industry Corporation has got HCM City authorities’ approval to build a US$190 million chip plant in the city, state media has said.
The plant which covers total capacity of more than 300 million products per year will be equipped with European state-of-art technology.
The project is planned to be built in five years. Once operational, the plant will bring in around US$115 million revenues each year.
At present, Vietnam has to import 100 per cent of chips for local consumption, Tran Van Tho, general director of the corporation said.
Vietnamese people spend US$1 billion on consumption of different kinds of chip each year, he added, forecasting that the spending will reach US$2 billion by 2012. (
www.baomoi.com)
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