Quang Ninh: Inauguration of a factory for the Lithium-ion battery manufacturing industry with a capital of 65.3 million USD

At Nam Tien Phong Industrial Park, Lien Hoa Ward, Quang Ninh Province, on the afternoon of September 17, the Quang Ninh Economic Zone Management Board and the investor, CoreMax Group, held the inauguration ceremony and installed the signboard of the Vina CoreMax Vietnam Factory (phase 1).

Delegates cut the ribbon to inaugurate the Vina CoreMax Vietnam Factory Project (phase 1). Photo: Minh Duc

Vina CoreMax Vietnam factory has a total investment capital of 65.3 million USD, an area of about 8 hectares, with the goal of producing two crystals of Nickel sulfate and Cobalt sulfate to serve the Lithium-ion battery manufacturing industry in the region and the world .

The factory's capacity is expected to reach 49,280 tons of products/year and is divided into 2 phases (phase 1 in September 2025 and phase 2 in January 2027).

CoreMax Group was established in 1992, CoreMax Group's companies specialize in providing chemical products such as: Oxidation catalysts, special chemical materials, electric battery materials and chemical fertilizers... In 2023, with a global expansion strategy, CoreMax chose Vietnam as the next destination with the Vina CoreMax Vietnam Project.

Vina CoreMax Vietnam Factory Project in Nam Tien Phong Industrial Park, Lien Hoa Ward has a convenient traffic location, directly connected to two important highways: Hanoi - Hai Phong and Hai Phong - Ha Long - Mong Cai, helping to save costs and time for transporting goods and raw materials.

This is a project to welcome the 16th Quang Ninh Provincial Party Congress, term 2025 - 2030. Photo: Minh Duc

The Vina CoreMax Vietnam Factory Project once again affirms the favorable investment environment, transparent policies and consistent support of Quang Ninh province for investors. When the Project is put into stable operation, it will create more jobs for workers, contribute to export turnover, increase budget revenue and promote sustainable industrial development, based on science, technology and innovation of the province.

Since the beginning of the term, the processing and manufacturing industry has been identified by Quang Ninh as one of the new growth drivers when the Quang Ninh Provincial Party Executive Committee issued Resolution No. 01-NQ/TU dated November 16, 2020 on rapid and sustainable development of the processing and manufacturing industry in the 2020-2025 period, with a vision to 2030.

Since the beginning of the term, Quang Ninh's processing and manufacturing industry has attracted 8.98 billion USD in investment capital, of which 6.74 billion USD is FDI capital, ranking among the top localities in the country in 2023 and 2024. The industry has maintained an average growth rate of over 21% per year, more than 3 times higher than in 2020; total investment capital in the industry reached 2.04 billion USD.

Bac Tien Phong Industrial Park in Quang Ninh.

In addition to promoting the attraction of processing and manufacturing industrial projects and attracting new generation high-quality FDI resources, the processing and manufacturing industry has been making a significant and sustainable contribution to the proportion in the province's GDP structure. Up to now, the scale of the industry has accounted for nearly 13% in the GRDP structure; contributing 3.2% in GRDP growth. Not only making its mark in economic development, the processing and manufacturing industry also has many social contributions, being a source of long-term employment and stable income, creating jobs for a large number of workers.

After more than 4 years of implementing the resolution, projects in the processing and manufacturing industry have created jobs for tens of thousands of new workers, bringing the total number of workers in this field to about 45,000. These results have demonstrated that the processing and manufacturing industry is gradually becoming a new growth driver for the Quang Ninh economy.

Source: https://baodautu.vn/quang-ninh-khanh-thanh-nha-may-cho-nganh-cong-nghiep-san-xuat-pin-lithium-ion-von-653-trieu-usd-d388351.html