# Innovation Precision Vietnam to build $165M aluminum factory in Nghe An

Innovation Precision Vietnam, a subsidiary of Shandong Innovation Metal Technology, has secured approval to build a $165 million aluminum factory in VSIP Nghe An Industrial Park, Vietnam. The plant will have an annual capacity of 100,000 tons of aluminum and is scheduled to start operations in October 2024, creating 1,500 jobs.

- Type: New facility
- Announced: 2023-08-03
- Where: VSIP Nghe An Industrial Park, Nghe An province, Vietnam
- Value: $165.0M
- Jobs: 1,500
- Starts operating: Oct 2024
- Status: announced
- Capacity: 100,000 tons of aluminum per year
- Products: aluminum alloys, semi-finished casting products, processed aluminum components
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Innovation Precision Vietnam](https://endata.com/companies/71814.md)
- [Shandong Innovation Metal Technology Co., Ltd.](https://endata.com/companies/48340.md) (investor)

## Sources

- [news.tuoitre.vn](https://news.tuoitre.vn/saigontimes/chinese-firm-to-build-us165-million-aluminum-factory-in-nghe-an-105284594.htm), 2023-08-03: "This venture marks the first plant developed outside of China by Shandong Innovation Metal Technology, the parent company of Innovation Precision Vietnam."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.