US$318.7Mln Heavy Truck Project Gets Nod in Central Vietnam

US$318.7Mln Heavy Truck Project Gets Nod in Central Vietnam

The Vietnam Coal Corporation (Vinacoal) has been approved to invest VND5,000 billion (US$318.7 million) to build a heavy truck assembly and production complex in the Chu Lai Open Economic Zone, central Quang Nam province.

The investment will be divided into many stages, a Vinacoal official said.

In the first stage, Vinacoal will set up automobile factories covering 120 hectares capable of turning out 500 Kamaz trucks per annum.

The construction of this complex will start on March 22, he said.

This is the second auto production and assembly project in the Chu Lai Open Economic Zone. The other is the Chu Lai-Truong Hai auto assembly factory capitalised at VND1,348 billion (US$85.56 million).

Vinacoal together with the Vietnam Motors Industry Corporation (Vinamotor), Vietnam Engines and Agricultural Machinery Corporation (VEAM) and Saigon Auto Mechanics Company (Samco) has been selected as the backbone of the automobile industry in Vietnam until 2020.
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