LG Innotek gets licence for $550 mln Vietnam camera plant

LG Innotek Co

16/09/2016 07:57

HANOI, Sept 16 (Reuters) - South Korea's LG Innotek Co Ltd 
 011070.KS  has been granted a licence to invest $550 million in 
manufacturing camera modules in northern Vietnam, the local 
investment authority said on Friday. 
    Construction of the plant is scheduled to start later this 
month and operations could begin in the final quarter of 2017, 
an official at Haiphong Economic Zone Authority told Reuters. 
    The plant would turn out 30 million products per month, all 
for export, and the project will last 50 years, the economic 
zone authority said in a statement on its website 
(www.heza.gov.vn).      
    Haiphong, 100 km (62 miles) southeast of Hanoi, is home to 
the largest seaport in the country's northern region. 
 
 (Reporting by Ho Binh Minh; Editing by Martin Petty) 
 ((ho.minh@tr.com; +844 3825 9623; Reuters Messaging: 
ho.minh.thomsonreuters.com@reuters.net;)) 
 
Keywords: LG INNOTEK VIETNAM/