Shin – Etsu invests 100 million USD to produce rare earth magnets Shin-Etsu Vietnam Magnet Materials Co., Ltd. (100% Japanese-owned enterprise) […]
Shin-Etsu Vietnam Magnet Materials Co., Ltd. (an enterprise with 100% Japanese capital) has just received the Certificate ofinvestment to implement the Rare Earth Magnet Factory Project in Dinh Vu Industrial Park (belonging to Dinh Vu - Cat Hai Economic Zone, Hai Phong). The project has an investment capital of 100 million USD, expected to be built on an area of nearly 50,000 m2.
According to the plan, the project will produce rare earth magnets from magnet powders and alloys for export, with a scale of 3,300 tons/year. It is expected that in October 2014, the project will officially start construction and will officially come into operation in November 2015. This is the 12th foreign direct investment project since the beginning of the year to be granted a new Investment Certificate by the Hai Phong Economic Zone Management Board in industrial parks and economic zones in Hai Phong.
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