Foxconn expands its Vietnam plant: leasing 450000 square meters of land until 2057

Thanks to CTOnews.com netizens Wu Yanzu in South China for the delivery of clues! CTOnews.com, Feb. 16 (Xinhua) Foxconn announced in August last year that it would spend $300 million to build a new plant in the Gwangju industrial zone in Bac Giang, Vietnam, which will employ about 30,000 workers when it is completed. Foxconn now plans to expand the industrial park again to further increase production capacity.

Foxconn has signed a lease with Saigon-Bac Giang Industrial Park Corp to lease 45 hectares (111acres / 450000 square meters) of land for about $62.5 million to meet "operational needs and expand production capacity", according to documents disclosed by the local exchange on Tuesday.

The site, located in the Gwangju Industrial Park in Bei Giang Province, east of the Vietnamese capital Hanoi, was leased through Foxconn subsidiary Fulian Precision Technology components Co., Ltd. CTOnews.com has learned that the lease will last until February 2057.

The plant announced by Foxconn in August last year is now in operation, mainly producing iPad and AirPods. The regulatory document does not mention which Apple products the new plant will be used to produce.