The four-hectare factory will be constructed to produce lock and key parts for the automobile and motorcycle industries, the source said.
Construction on the factory is scheduled to commence this December and is expected to be completed within a year. Once operational, the factory will generate US$36 million revenue and create more jobs for local workers.
Besides, Honda Lock has invested in the construction of eleven factories in a number of countries worldwide, including the US, Thailand and China. (Vietnam Economic Times)