Japanese technology giant Panasonic recently announced a plan to build a factory in the southern province of Binh Duong that will produce wiring devices and circuit breakers, Japan's Kyodo News reported April 15.
The firm has estimated construction of the plant will cost around 4 billion yen (US$40.7 million) and that it would be operational by April 2014.
In its first year of operation, Panasonic hopes the factory will produce as many as 27 million electric wires and 12 million circuit breakers and that it seeks to double that capacity by 2018.
The circuit breakers will be sold to Thailand and Japan, the company said.
In late March, Panasonic inaugurated its $32-million factory in the northern province of Hung Yen, which manufactures 600 washing machines each year.
At the moment, its refrigerator plant, which has been operating in Hanoi since 2003, produces around 800 products per year.
The firm stopped producing Blu-ray and DVD disks in Vietnam this February due to a decline in sales.
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