Amata VN Plc, a subsidiary of SET-listed Amata Corporation, Thailand's biggest industrial estate developer, predicts bright business prospects in Vietnam after the company's Amata City Halong industrial estate was selected by solar module manufacturer Jinko Solar Hongkong as its production base with an investment valued at US$866 million.
The new factory, located on a 52.7-hectare plot, is Jinko Solar Hongkong's third manufacturing plant. The company's two other facilities are located in the US and China.
Somhatai Panichewa, president and chief executive of Amata VN, said she believes the investment by Jinko Solar Hongkong will support Amata's plan to promote high-tech solar power industries for smart cities in Vietnam.
"This investment project is expected to attract more investors to invest in the industrial estate in the future," she said.
Speaking on behalf of Jinko Solar Hongkong, Huang Xin Jing said the firm continues to invest in the solar energy industry to serve growing demand for renewable energy in the global market.
"We expect this project will generate revenue worth around $2.3 billion a year and create up to 2,000 jobs in Quang Ninh province," he said.
Somhatai: Upbeat on future prospects
The company earlier conducted a survey in more than 20 provinces and 30 industrial zones to find a suitable new production base and eventually decided to choose Amata City Halong.
Amata VN was granted licences by the Vietnamese government to develop industrial estates in the city of Halong in the northern province of Quang Ninh as well as Long Thanh and Bien Hoa in the south.
Amata City Halong officially opened in 2018. The industrial estate, located in an economic zone of Quang Ninh, is one of the region's largest industrial parks.
Amata VN, a holding company in industrial estates and related businesses in fast-growing Vietnam, has worked in the country for over 26 years and was the first foreign firm to invest in industrial estates there.
