News Room - Business/Economics

Posted on 24 Mar 2008

Sumitomo to build Vietnam electric-wire factory

Vietnam Investment and Development Group Joint-Stock Co. has said it agreed to build a US$90 million electric-wire factory with Sumitomo Wiring Systems Ltd. in the northern province of Ha Nam. 

The factory will produce electric wires for automobiles.

The construction is expected to start next month but no dates have been given for when the project is to be completed.

Hanoi-based Vietnam Investment and Development owns and runs industrial parks in northern Vietnam, according to the company’s website.

Sumitomo Wiring is a unit of Sumitomo Electric, Japan’s largest maker of wire and cable.