The Thanh Cong Group’s Hyundai Thanh Cong Vietnam Joint Stock Company, an importer of Hyundai compact cars, has completed the construction of an auto factory in the northern province of Ninh Binh.

Located on an area of 68 hectares in the Gian Khau Industrial Zone, in Gia Vien District, Ninh Binh Province, the plant was built at a cost of US$80 million, said Nguyen Minh Phu, Hyundai Thanh Cong Vietnam’s Deputy General Director, at an opening ceremony for the Vietnam Auto Expo 2010 in Ho Chi Minh City on October 21st.

Expected to be put into full operation by late December this year to make around 80,000 cars of all kinds per year, Hyundai Thanh Cong Ninh Binh will be capable of assembling Hyundai cars and other brand names of the world, as part of its plan to phase out the import of CBU (Completed-Built-Unit) cars.

Hyundai Thanh Cong has developed its distribution channel with the Hyundai Global Standards, and has planned to bring its total number of 3S agencies to 24 nationwide by late this year.

Source: thesaigontimes

Translated by Vu Hung