MinebeaMitsumi to Invest Over US$320m in Expanding Operations in Cambodia & Thailand

• 14 May 2024
• Local News
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Japanese electronics supplier MinebeaMitsumi has announced plans to invest 50 billion yen (US$321 million) to build a new factory in Cambodia and expand a solar power plant in Thailand. This report was published by NIKKEI ASIA on 10 May 2024.

MinebeaMitsumi will allocate 32 billion yen (over US$205 million) to construct a new factory in Cambodia, scheduled to commence operations early next year. The factory, which will produce car and engine components, among other products, will span 500,000 square metres—2.5 times larger than the existing factory in Cambodia.

In addition to the Cambodian expansion, MinebeaMitsumi plans to invest 17 billion yen (US$109 million) in Thailand to increase the capacity of its existing solar power plants. The upgrade, expected to be completed by 2025, will boost the plant’s capacity from 16.5 megawatts to 170 megawatts. This enhancement will allow the company to meet up to 50% of its total solar energy needs in Thailand.

The company has also set an ambitious goal to reduce CO2 emissions by 30% by 2030. As part of this initiative, MinebeaMitsumi is installing solar power plants in Cambodia and the Philippines, alongside Thailand. The combined energy output in these three countries is anticipated to reach 230 MW by 2025.

Additionally, Minebea Cambodia is planning to invest approximately US$650 million to acquire 50 hectares of land in Pursat province for the creation of a special economic zone. This expansion marks the company’s second significant investment project in Cambodia. This development was recently confirmed by HE Sun Chanthol, Deputy Prime Minister and First Vice President of the Council for the Development of Cambodia. (Read more)

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