Construction of a US$70 - Million Auto Plant Starts

The JRD-Vietnam Auto Manufacture Joint Venture Company started construction of an automobile manufacture plant on September 18 in An My commune, the central province of Phu Yen. The plant will cost US$70 million and have a capacity to manufacture 15,000 units annually.

 

JRD-Vietnam is a joint venture between the Phu Yen Industrial Production and Import-Export Company and the JRD Automobile Assembly Company, Malaysia.

 

Mr. Jimmy Liew, the chairman of the JRD-Vietnam Management Board, says the plant will launch the first automobile in March 2006 and after completion it will assemble 10,000 lorries with a capacity of seven tonnes or less and 5,000 coaches with 16 seats or less. Of these, 70 percent will be sold in Vietnam and the rest will be shipped overseas.

 

Mr. Liew also says to the company will try to localize 20 percent of auto parts in the first year of operation and increase the local content to 60 percent six years later.