Ma Bin, founder and chairman of Shemar Power, said the company, established in 1996 and headquartered in Jiangsu province, has grown from an initial market size of 50,000 to 1.5 billion USD today.

Vice Chairman of Bac Ninh People’s Committee Pham Van Thinh speaks with executives of China’s Shemar Power in the meeting.

Its products are now used in more than 100 countries, serving leading grid operators and electrical equipment manufacturers. The firm specializes in high-tech power materials and insulation products, with 12 patented product lines already commercialized.

Shemar Power plans to invest in Gia Binh II Industrial Park in two phases. In the first stage, between 2025 and 2030, it will build two factories: one producing insulators, bushings and electrical gaskets, and another making transmission line and substation insulation equipment.

The phase will involve 90 million USD in capital, covering 28 hectares, with projected output worth over 600 million USD annually and jobs for more than 1,600 workers.

An overview of the meeting.

The second phase, scheduled for 2027 to 2033, includes three more factories producing electrical insulation components, aluminum parts for electrical devices, and transformers using new materials. Annual output is estimated at 537.5 million USD on 14 hectares of land.

The PPC Vice Chairman Thinh welcomed the delegation, congratulated Shemar Power on its achievements, saying that choosing Bac Ninh as an investment destination was “a wise decision,” citing the province’s strong advantages in the northern economic hub.

He pledged Bac Ninh’s support for investors, noting that the province has consistently assisted companies with administrative procedures, electricity supply, infrastructure and problem-solving in business operations.

The provincial leader urged Shemar Power to speed up surveys and move ahead with its investment plan in the province.

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