Hanwha Aerospace Inaugurated First Aviation Engine Parts Plant in Vietnam

Hanoi, December 10 (Engineering Daily) -- Hanwha Aerospace inaugurated the first of three planned aviation engine parts plants at Hoa Lac Hi-Tech Park in Ha Noi on Thursday.

Hi-Tech Park Management Board granted an Investment Registration Certificate(IRS) to the Hanwha Aerospace factory project with a total investment capital of USD200 million and the construction started on September 21, 2017 on a total area of 97,000㎡.

The Hanwha Aerospace factory has an order worth of USD40 million by now and plans to launch the first products next month. The plant targets USD400 million in revenue by 2023.

Hanwha Group welcomes this launch in that it confirms the entrepreneurial cooperation between the two nations and anticipates more of this in the future. The CEO of the Group Kim Seung Yeon said through Vietnam News, "I hope Hanwha Group and Vietnam  continue holding hands to create aviation breakthroughs in the future."

Meanwhile, Hanwha Group has invested in projects in Vietnam throughout Bac Ninh, Long An, Ha Noi, and HCM City with a total investment of about USD1 billion.