Quanta has turn into the newest Apple provider to closely put money into manufacturing in Vietnam, agreeing with a provincial authorities to construct a $120 million plant facility.
Quanta signed an settlement with the authorities of Nam Dinh province on Friday, reports Reuters to arrange the manufacturing facility in northern Vietnam. The venture, which is anticipated to value $120 million, shall be constructed within the My Thuan Industrial Park, occupying 22.5 hectares of land.
Particulars about when the manufacturing facility will anticipate to open, in addition to the potential manufacturing strains, weren’t introduced as a part of the signing or a governmental assertion. Contemplating Apple’s want to broaden Vietnamese manufacturing, in addition to different provide chain members efforts, it appears extremely seemingly that it will likely be used for Apple manufacturing functions.
After saying a $300 million investment in North Vietnam in August 2022, Foxconn signed a new lease in February 2023, renting a plot of 111 acres for roughly $62.5 million till 2057. In the meantime in January, display maker BOE was working to lease dozens of hectares of land as a part of a $400 million funding.