3:54:55 PM | 12/11/2008
Switzerland-based ABB Group, a global leader in power and automation technologies, started construction of a US$30-million power equipment plant in Vietnam's northern Bac Ninh province on November 11.
The plant, covering 87,000 square meters in local Tien Son industrial park, is scheduled for operation in late 2009.
It will produce power devices for domestic use and exports.
The project is part of the ABB's strategy to expand operations in Asia in general and in Vietnam in particular.
In February this year, ABB inked a US$25-million contract to supply power and automation technologies to a cement plant of Vicem, which is set to be built in southern Binh Phuoc province with a designed capacity of 5,500 tons of clinker a day. (Investment, Vietnam Economic Times)
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