Taiwan household appliance maker TECO invests in Vietnam
Veteran household appliance maker TECO Electric and Machinery Co., Ltd. is investing in Vietnam, reports said.
A new factory in Binh Duong Province, just north of Ho Chi Minh City, would play a key role in exports to the U.S., TECO Chairwoman Sophia Chiu said during a speech at the plant’s opening on July 23.
The Taiwanese company invested US$12 million in the project, which will turn out 200,000 small IE3 engines per year at the 4.2-hectare factory, itself part of a 50-hectare TECO industrial park, the Central News Agency reported.
An estimated 150 enterprises from various countries could find a new home inside the industrial zone by 2027.
The factory itself would also play a model role due to its environmentally friendly manufacturing, automatization and intelligent production lines, Chiu said, with new processes cutting the usage of electricity and chemicals.
Over the past decade, TECO developed industrial parks in Subic Bay in the Philippines, Qingdao in the Chinese province of Shandong, and in the Indian tech hub of Bengaluru, according to CNA.
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