Bridgestone starts work on tire plant
By Lan Nhi - The Saigon Times Daily
HANOI – Japanese tire producer Bridgestone has commenced work on a factory in Haiphong City’s Dinh Vu Industrial Zone with total investment capital of US$575 million.
When Vietnam was chosen for the facility, the company would have the opportunity to boost localization through Vietnamese partners, said Kazuhisa Nishigai, chief operating officer of Bridgestone.
He also highlighted favorable investment conditions in the country such as infrastructure, labor cost, operating cost and market potential.
Covering 102 hectares, the plant is expected to turn out 24,700 products a day for export to the EU, the U.S. and Japan when it is in place in March 2014. The factory will employ some 1,900 workers between 2013 and 2016.
This is the 47th tire plant that Bridgestone has developed outside Japan.