Known as United States Enterprises, the factory will cover a total area of 102,200 square metres, with the first stage covering over 61,000 square metres and costing US$66 million.
Construction of the project is scheduled to commence in the second quarter of 2021 and the plant will be put into operation two years later.
The project is registered under two US investors Ha Vinh Ly and Nhe Thi Le, who currently own Hayward Quartz Technology Inc, a leading supplier for original equipment manufacturers.
The United States Enterprises plant specialises in the production of semiconductor materials for equipment in the electronics industry.
This is the second largest foreign-invested project in the Da Nang Hi-tech Park, following a project by UAC to manufacture aeronautic components, said Pham Truong Son, head of management of hi-tech and industrial parks in Da Nang.
To date, the Da Nang Hi-tech Park has attracted 23 projects, including 11 FDI projects worth a total of US$510.1 million and 12 domestic projects worth a total of VND6.3 trillion (US$273 million).