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Thursday, June 13, 2024

South Korean firm to build aircraft component plant in Danang

The Saigon Times

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HCMC – South Korea’s KP Aero Industries Co., Ltd will invest US$20 million to develop an aircraft components manufacturing plant in Danang City.

On January 25, the Danang High-Tech Park and Industrial Zones Management Board gave approval to the project. Set to commence in early February, the project will produce essential components for Boeing 787 and Boeing 737 Max aircraft.

The forthcoming facility will cover the full spectrum of manufacturing, processing, and assembly of critical aircraft components, including APU doors, MIC tips, wingboxes, winglets, and flap support fairings.

With a completion date projected for the end of 2024, the plant is poised to make a substantial contribution to Vietnam’s burgeoning aerospace sector. KP Aero Industries Co., Ltd, armed with extensive experience and key partnerships with industry titans such as Boeing, Airbus, and Korean Air, positions itself as a formidable player in the regional aerospace landscape.

This marks the second aerospace investment in Danang’s high-tech park, following in the footsteps of UAC Vietnam Company.

In 2023, the Danang High-Tech Park and Industrial Zones Management Board greenlit 19 projects, with a total investment of US$258.6 million.

This year, the board aims to attract a minimum of three projects, collectively injecting around US$200 million into vital sectors such as aerospace technology, semiconductor microelectronics, and top-tier healthcare.

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