Nippon Paint has began construction of its new factory in northern Vinh Phuc province.
The third and largest factory of the company in Vietnam, it will produce industrial paint for automobiles and motorcycles, heavy duty coatings, decorative paint, marine coatings and resin.
Covering a 60,000 square meter area in Ba Thien II Industrial Zone, the plant has registered investment capital of $14 million for the next five years, planning to add up to 500 new jobs.
Nippon expects to finish the first phase of the plant and start operation in February next year.
This is the first project in Ba Thien II Industrial Zone, playing a meaningful role in attracting more projects to a new industrial zone like Ba Thien in Vinh Phuc, said Chairman of the provincial People's Committee Phung Quang Hung.
Nippon Paint has had a presence in Viet Nam since 1994 through its first facility in Bien Hoa Industrial Zone II in the southern province of Dong Nai, followed by the opening of its second facility in 2006 in Ha Noi's Quang Minh Industrial Zone.