ABB inaugurates new factory in Vietnam
ABB has opened a facility for manufacturing power products in Vietnam, as the country builds and strengthens its electricity network. Vietnam is experiencing rising demands created by a growing economy.
The new plant on the outskirts of the capital, Hanoi, is part of ABB's approach to build production capacity in fast-growing markets and to strengthen its presence in Vietnam. Electricity consumption in Vietnam, with a population of around 85 million, is expected to double in the next six years.
"Vietnam is a growing market and an attractive location for a production hub," said Bernhard Jucker, head of ABB's Power Products division. "This new manufacturing unit is part of our strategy to diversify our global presence and will help Vietnam to meet the growing demand for electricity while maintaining grid reliability."
The new facility will manufacture medium-voltage power products, such as compact substations and ABB's latest UniGear switchgear, for the Vietnamese market. It will also serve as an important global sourcing base for components used by ABB in the manufacture of high-voltage products.
ABB has invested around $30 million in the facility, which will employ about 100 people. The factory is built on 87,000 square meters of land in the Tien Son Industrial Zone in Bac Ninh Province, an attractive foreign investment center. Construction was completed in around 15 months, with technical collaboration and know-how from Switzerland and other global technology centers.
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