The Piaggio Vietnam Co. Ltd has raised its investment in the northern province of Vinh Phuc by $75 million to $165 million to expand operations.

The Italian motorcycle manufacturer received a certificate for the additional investment from the Vinh Phuc management board of industrial parks on February 21.

It established a motorcycle assembly plant at the Binh Xuyen Industrial Park in Binh Xuyen district in June 2009. In March 2012, it unveiled an engine production factory at the industrial park. Covering a total of 18.9 ha, the two projects had combined initial investment of $90 million.

To further develop its production and business activities, Piaggio Vietnam has decided to merge these projects and invest $75 million more to raise motorcycle production and assembly capacity to 400,000 units each year from 250,000. Engine production will also increase to 400,000 units annually from 300,000.