ShunSin Technology Holdings, a subsidiary of Taiwan’s electronic manufacturer Foxconn, will invest up to $65 million to set up bumping and redistribution-layer process production lines at its Vietnam subsidiary, funded through a capital injection of the same amount.

In two filings with the Taiwan Stock Exchange (TWSE) on Wednesday, ShunSin Technology Holdings said it would establish the process lines, along with related ancillary facilities, at ShunSin Technology (Vietnam). The investment will be made in phases, in step with production-line construction and equipment procurement, ShunSin said.

ShunSin Technology Holdings will increase the Vietnam unit’s capital by $65 million through ShunSin’s wholly owned Hong Kong subsidiary, in a cash, related-party transaction.

The Hong Kong entity is to receive a matching $65 million capital increase to channel the funds, the company said, citing long-term equity investment as the purpose.

After the move, ShunSin’s cumulative investment will total about $175 million in the Vietnam unit and about $312 million in the Hong Kong entity.

Foxconn has been investing in Vietnam since 2007. One of the latest investments of Foxconn in Vietnam was $265 million, approved in mid-August. Foxconn’s total investment in Vietnam can reach $5 billion soon.

Taiwan’s Foxconn to invest $265M more in Vietnam, $57M in Singapore