Thanh Cong Group and Hyundai Motor co-held a ground-breaking ceremony for an automobile manufacturing facility which has designed capacity of 100,000 units per year, in the northern province of Ninh Binh on September 20.
The new Hyundai Thanh Cong 2 plant (HTMV 2) will raise Hyundai's total automobile output in Vietnam to 170,000 units per year once it is put into operation.
The facility is constructed on a ground of 50 hectares at Gian Khau Industrial Park in Gia Vien district at an estimated cost of 3.2 trillion VND (over 138 million USD).
The first phase of the project is expected to complete in June 2022, and the second in June 2025.
The factory will use green energy as well as environmentally-friendly technology for auto manufacturing that allows its products to reach European emission standards Euro 5.0 and Euro 6.0.
Speaking at the event, Director-General of Thanh Cong Group Le Ngoc Duc said Hyundai Thanh Cong 2 is expected to help boost Ninh Binh's socio-economic growth and strongly develop the country's automotive industry.
Chairman of the provincial People's Committee Dinh Van Dien, meanwhile, pledged to provide all possible conditions for the group to complete the project.
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