The GE Vernova Factory Project is located in Nam Dinh Vu Industrial Park, Hai Phong, and is developed by GE Vernova, with a total investment of approximately USD 200 million.

The factory will produce large-scale transformers serving high-voltage direct current (HVDC) transmission projects – a technology that enables efficient power transmission over long distances. The Hai Phong facility will enhance GE Vernova’s global HVDC transformer manufacturing network, complementing its existing plants in Stafford (United Kingdom) and India.

The project was groundbroken on March 10, 2026, will be implemented in phases, and is expected to be fully operational by 2028.