Samsung Electronics near license for new $3 billion Vietnam mobile phone plant: newspaper
Reuters
Published Nov 09, 2014 09:36PM ET
Samsung Electronics near license for new $3 billion Vietnam mobile phone plant: newspaper
HANOI (Reuters) - A subsidiary of South Korea's Samsung Electronics Co Ltd (KS:005930) will be awarded a license to invest $3 billion in a mobile phone plant in northern Vietnam, the second such facility in the country, a state-run newspaper said on Monday.
The facility will be built in Thai Nguyen province, where Samsung Electronics Vietnam has operated a $2 billion plant for mobile phone production since March 2014, the Planning and Investment Ministry-run Dau Tu newspaper said.
A Samsung Electronics Vietnam official said the company had no immediate comment on the report.
The ministry oversees foreign investment in Vietnam. Samsung's latest investment would bring its total pledges in the Southeast Asian nation to around $11 billion, the Dau Tu newspaper said.
(Reporting by Ho Binh Minh; Editing by Kenneth Maxwell)
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