HANOI, Vietnam — GE Energy is investing approximately US$50 million to build its first manufacturing facility in the seaport city of Hai Phong, Vietnam.
The factory will produce components for GE’s portfolio of power generation equipment. The components produced in Vietnam will be sent to the company’s manufacturing and service facilities around the globe for use in finished products.
“The availability of skilled labor combined with strong support from the national and local governments makes Vietnam a very attractive choice for our new manufacturing center,” said Lawrence Blystone, vice president of supply chain for GE Energy. “We’re pleased to be investing in Vietnam to build this state-of-the-art facility and excited about the opportunity to apply our expertise from the many facilities that we have built and operated around the globe.”
“Hai Phong is one of Vietnam’s most important seaports and the main industrial center of the north. It is also the third largest city in Vietnam. Access to the Hai Phong seaport offers excellent logistics potential for our new factory,” said Kovit Kantapasara, GE Energy’s country executive for Vietnam.
Construction of the new facility is scheduled to begin by the end of 2007, and the facility is projected to be operational by the end of 2009. When fully operational, the facility is expected to employ more than 400 people.