Business
THACO inaugurates Vietnam’s most modern agricultural machinery factory
Truong Hai Auto Corporation (THACO) inaugurated its agricultural machinery factory at Chu Lai Open Economic Zone in Quang Nam province on February 21.
THACO inaugurates Vietnam’s most modern agricultural machinery factory
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The factory will produce agricultural tractors, harvesters, and farming equipment.
It was designed to manufacture tractors with a capacity from 18-120HP, along with high-quality combine harvesters and other agricultural equipment.
In its first phase, the plant has the annual capacity of producing 2,000 tractors, 3,000 sets of farming equipment, and 1,000 combine harvesters.
The factory’s technology is transferred from LS Mtron Group, a leading agricultural machine manufacturer from the Republic of Korea.
The factory covers 12,500 square metres and has an investment of US$22 million
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In 2018, Thaco will also focus on developing passenger cars, while launching the first phase of the 50,000-unit-per-year Thaco-Mazda factory on March 24, along with a new van factory to produce 100,000 units per year.
The firm will also partner up with other companies to develop the supporting industry and expand its factories to 138 hectares in 2018, which is promised to become Vietnam’s most modern agricultural machinery one.
The THACO agricultural machinery factory has acquired technology from LS Mtron, the largest agricultural machinery producer in the Republic of Korea, which also runs factories in Brazil and China and provides tractors for more than 40 countries around the world.
LS Mtron will transfer tractor production technology to THACO and assist the company in training engineers in order to reach a Regional Value Content (RVC) of up to 50%.
THACO also aims to export its products to Laos, Cambodia, the Philippines, Myanmar, Indonesia, and other markets in the LS Mtron trading system.
