South Korea’s KP Aero Industries Group in collaboration with the Dinco Construction Engineering JSC held a groundbreaking ceremony on Tuesday for the US$ 20 million KP Vina Aviation Components Factory project.

Vice Chairman of the Da Nang People's Committee Tran Chi Cuong speaking at the ceremony. Photo: M.Q

Speaking at the ceremony, Vice Chairman of the Da Nang People's Committee Tran Chi Cuong highly appreciated the South Korean investor's right choice when deciding to develop this project in Da Nang.

He expressed his belief that the project will become one of the investment destinations for the aviation industry on the regional and world maps. He added that the project was very suitable for the city's socio-economic development orientation and priority areas to attract investment in the 2020-2025 period and the following years.

Mr. Cuong remarked once completed, the project is expected to bring great benefits to investors, actively contributing to improving the city's industrial production value and commodity export value, creating more jobs and income for local workers, increasing revenue for the State budget, and promoting the city’s socio-economic development.

The ground-breaking ceremony held for KP Vina Aviation Components Factory project in progress

He also affirmed the city's consistent policy in efforts to reform administrative procedures, improve the business and investment environment, attract investment, and develop economic sectors, especially private economy.

He took the opportunity to ask the investor to mobilise resources to ensure quality and progress of the project as committed, as well as comply with the laws on planning, land, investment, construction, environmental protection and other relevant laws.

The KP Vina Aviation Components Factory will be built at Lot A15, Street 7, the Da Nang High-Tech Park, Hoa Vang District. Covering an area of 2ha, the project is expected to be completed in September 2024, promising to create jobs for 500 workers.

The factory will produce, process, and assemble aircraft parts, including APU doors, MIC tips, wingboxes, winglets, and the flap support fairing of Boeing 787 and Boeing 737 Max aircraft.

​Reporting by M.QUE - Translating by M.DUNG