China’s Trina Solar plans US$400mil Vietnam plant

Trina's planned investment underscores the growing interest of Chinese businesses in setting up factories there as they seek to avoid escalating geopolitical and trade tensions between Beijing and Washington. — Reuters

HANOI: Chinese solar panel maker Trina Solar is planning to build its third factory in Vietnam, three people familiar with the matter say, a move that would boost exports to the United States following punitive duties to be imposed on products it makes in Thailand.

Trina, one of the world’s biggest solar panel makers by sales, would invest US$400mil in the plant that would span 25ha of industrial land. Production is set to begin in 2025, one of the sources with direct knowledge of the plan said.