Dong Tam Group and CS Wind Corporation to build $200 million wind power equipment factory

Dong Tam Group and CS Wind Corporation will build a $200 million wind power equipment factory

Dong Tam and its subsidiaries will lease 50 hectares of industrial and service land to CS Wind Vietnam. The land will be used to build a factory and storage yard for onshore and offshore wind towers, as well as wind energy products such as monopiles, transition pieces, and other materials, which will be supplied to the global market.

This project is considered one of the largest wind power equipment production factories in the world, with a total first-phase investment of up to $200 million. The expected capacity is up to tens of thousands of units per year, supplying equipment ranging from 500-4,000 tonnes per item.

The equipment and materials will be initially imported and exported through Long An International Port, estimated to be between 150,000 to 200,000 tonnes annually.

According to Nguyen Van Duoc, Chairman of Long An People's Council, the signing ceremony affirmed the commitment of all parties involved in investing in this project.

“Long An province places high importance on this project and its partners, committing to continuous support to the enterprises, investors, and Can Giuoc district for the project’s successful implementation. Well-developed industrial parks (IPs) not only attract investments, but also significantly contribute to provincial revenues, creating more local jobs, and producing highly competitive domestic and export-quality consumer goods. In Long An, revenues from IPs account for nearly half of the total local state budget revenue. We always strive to build a trustworthy, transparent, and favourable investment environment in the province," Duoc said.

Vo Quoc Thang, chairman of the Board of Directors of Dong Tam Group, said he was excited to welcome a prestigious corporation such as CS Wind to invest in Long An Southeast Asia IP.

“Once the factory is operational, the equipment produced here will be exported to countries around the world through Long An International Port. This further reinforces the appeal of Long An's investment environment for international investors. We are also committed to creating the most favourable conditions for investors throughout the project implementation process,” Thang said.

According to the analysis by Bloomberg New Energy Finance (BNEF), with governments around the world actively promoting the development of green energy, wind and solar energy are expected to meet 56 per cent of global electricity demand by 2050.

The United States, China, and the European Union have set goals for developing carbon-free and carbon-neutral power grids, reflecting the global trend towards sustainable development. The project will contribute to ongoing efforts to localise Vietnam's wind power supply chain, as well as develop competitiveness in the international market.

CS Wind was founded in 1984 in South Korea, and is a leading corporation in the industry of manufacturing wind towers for the world's largest wind generators.

In 2003, CS Wind established the first wind tower manufacturing company in Vietnam. It is the foemost factory in Southeast Asia, reaching out to markets in Asia, the South Pacific, and the US, and quickly becoming the world’s top corporation in wind tower manufacturing. CS Wind currently operates manufacturing facilities in eight countries, including Vietnam, the US, and Denmark.

The Dong Tam brand was founded in 1969 in Vietnam, with core competencies in the manufacturing and trade of construction materials, as well as interior-exterior decoration.

Over its 55 years in the market and 20 years in the development and leasing of IP infrastructure, Dong Tam has continuously diversified its business, expanded its factories and warehouses, ventured into port operations, provided a full range of logistics services, and invested in many other fields.

Long An ranked second on Vietnam’s Provincial Competitiveness Index in 2023, thanks to significant advantages in industrial and service development, foreign investment attraction, and favourable inter-regional connectivity.

South Korea's CS Wind inaugurates a $80 million offshore wind tower plant CS Wind Vietnam, a subsidiary of South Korea's CS Wind Corporation, inaugurated an $80 million offshore wind tower facility in Phu My 1 Industrial Park, Ba Ria-Vung Tau, on March 13.