NeoSCM proposes $50 million brake disc factory project in Hai Duong

The factory will cover 8 hectares in An Phat 1 Industrial Park, with a production capacity of approximately 4 million products per year for export and domestic consumption.

To meet the demand for electricity, the project will be divided into two phases. The first phase is expected to commence operations by the end of 2024 with a power consumption of about 18MW, while the second phase will start operating by the end of 2026 with a power consumption of 25MW.

Due to the large electricity consumption required for production, NeoSCM has requested information from Hai Duong province regarding the electricity infrastructure and sources to ensure stable operation and anticipate price trends for the next 10 years.

The project will use scrap steel as raw material for production, and the company hopes to receive support for import licensing procedures, import quotas for scrap steel, and restrictions on weight limits for imports.

NeoSCM has exported to customers in China, the United States, Germany, Brazil, and Ford Motor, which also has a car assembly plant in Hai Duong province. In January 2020, Ford announced an additional investment of $82 million to upgrade the assembly plant's capacity from 14,000 to 40,000 vehicles per year, to be completed by mid-2022.

The expansion investment plan also allows Ford Vietnam to purchase new equipment, machinery, and a range of modern connected robots.