Foxconn to Invest $551 Million in Two Projects in North Vietnam [BNN Bloomberg (Canada)]
HON HAI PRECSON S/GDR NEW (HNHPF)
NASDAQ:AMEX Investor Relations:
foxconn.com/investors_en/investors.html
Company Research
Source: BNN Bloomberg
The company has been granted a license for a $264 million project in Song Khoai Amata Industrial Park to produce smart entertainment products, with designed capacity of about 4.2 million units per year, according to a posting on the provincial government's website. It's also been permitted to invest in a $287 million project in Bac Tien Phong Industrial Park to make smart-system equipment, the posting said. Foxconn, whose main subsidiary Hon Hai Precision Industry Co. is responsible for assembling the bulk of the world's iPhones, has been diversifying its production bases with new manufacturing sites in places like India and Vietnam. The two new projects bring the total investment pledged by Foxconn in the province to about $1 billion, according to the posting. The Quang Ninh provincial government will form a working group to help Foxconn quicken the process with “supportive measures and creating the most favorable conditions” to complete construction by September 2025. The gover
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