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Nipro to pour US$300 million in HCMC
Date: 2/16/2017 5:32:54 PM
Japanese medical device producer Nipro plans to pour US$300 million into a project to build a dialysis equipment manufacturing plant in Vietnam, according to Nikkei Asian Review.
The investment expansion of Nipro is aimed to increase its manufacturing capacity to meet rising domestic and international demand for dialysis equipment.
According to Nikkei, the Osaka-based company announced it will establish subsidiary Nipro Vietnam in the Saigon Hi-Tech Park in HCMC this month.
In addition, the company is expected to build the plant and install production equipment in the next three years, with an investment of around US$190 million.
The products of the project will be available on the market from October 2018. Nipro also has mapped out a plan to invest an additional US$110 million to expand production capacity at the plant by 2025.
The factory will produce catheters, blood tubing and other products for dialysis that would be sold mainly in Japan and Southeast Asia. The company has been providing the products for these markets from a subsidiary of Nipro in Thailand.
Nikkei said low labor costs played an important part in Nipro’s decision to invest in Vietnam.
The management of the park on February 14 confirmed the investment of Nipro into the park when reached by the Daily on the phone.
Nipro has been granted an investment certificate to develop the project on an area of some 96,000 square meters.
Nipro is ranked second on the global market for producing dialysis equipment which is used for patients affected by diabetes. The Vietnamese factory will specialize in producing dialysis-related products.
(Source:english.thesaigontimes.vn)
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