Shin-Etsu Chemical Co. Ltd. will set up two companies specialising in manufacturing silicone-based materials for high-brightness LED lights, and refining rare earth minerals, with a total investment of JPY 5 billion ($65.16 million). Shin-Etsu Magnetic Materials Vietnam Co. Ltd. will separate and refine rare earth minerals used in electronics production, at a complex to be built on 80,000 sq.m. at Dinh Vu Industrial Park in the northern port city of Hai Phong.