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Nidec invests US$70 mil. more at high-tech park
By Quoc Hung - The Saigon Times Daily
Friday,  Jun 25, 2010,00:00 (GMT+7)

By Quoc Hung - The Saigon Times Daily

Workers test products at a Nidec Group factory - Photo: Quoc Hung
HCMC – Japanese-invested Nidec Copal Corp. will on Friday receive its certificate of approval to invest US$70 million in hi-tech manufacturing of precision compact motors and parts at Saigon Hi-Tech Park (SHTP), according to the park on Thursday.

Vị trí đặt quảng cáoNidec Copal Precision Vietnam (NCPV) is a new company and this is the fourth project by Nidec Group at SHTP. The three older projects are conducted by Nidec Sankyo Vietnam, Nidec Vietnam Corporation and Nidec Servo Vietnam.

The new project includes the design, manufacture and sale of precision motors and parts, including coin motors, vibration motors, stepping motors and silent-geared motors, used in mobile and digital devices such as cameras, phones, laptops, printers, HDD and blue ray disk drivers.

The project will be developed in two phases, and is expected to reach an export value of US$60 million a year in the first phase (2011-2012) and more than US$120 million a year at maximum production.

In spite of the recent global recession, Shinji Kondo, NCVP’s general manager, told authorities of SHTP that the company had already received orders from customers and was making hectic preparations to have its first factory up and running by April 2011.

This is the biggest project of Nidec Group in the park, raising the total investment capital of the investor there to US$190 million from the current US$120 million, according to the park.

The project is one of around ten projects Nidec Vietnam is committed to in SHTP, with total investment capital of US$500 million. These projects will be implemented over 10 years, and when at full steam will employ 20,000 workers.

All three Nidec factories in SHTP are operating very well, according to the park. All products at the three factories have been exported.

Nidec is the world’s leading producer of hard disk drives, optical disk drives and DC motors.

Nidec entered Vietnam 13 years ago in a venture with Tosok Precision, also of Japan. Nidec Tosok Vietnam, in Tan Thuan Export Processing Zone in HCMC’s District 7, specializes in electric wires, computer-fan motors and parts for gearboxes. The venture began with total capital of US$1 million but the figure has now soared to about US$100 million.

NCVP is the second project invested in SHTP in the first half of 2010. SHTP is now home to 42 local and foreign hi-tech companies, with a total investment commitment of more than US$1.82 billion, creating more than 10,000 skilled jobs, contributing nearly US$640 million in export revenue to the city budget.

SHTP, which has leading international hi-tech companies, expects foreign and domestic investment capital-flow this year to hit US$150 million. The park is focusing on attracting high-technology projects in microelectronics, IT, telecoms, research and development, and the service sector.

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