16:49 | 02/10/2015 Science - Technology
(VEN) - As part of the implementation of the 2015 National Industry Promotion Program, Industry Promotion Center 1 (IPC1) decided to prioritize funding for projects related to technical demonstration models and piloting new technologies and equipment, with a view to encouraging businesses to modernize production processes and improve production capacity and product quality.
Manufacturing the continuous concrete mixer at the Quyet Tien Engineering Co., Ltd
IPC1 has been praised for its effective implementation of projects related to technical demonstration models and piloting new technologies and equipment in recent years. It supported 17 such projects last year, with total funding of VND3.83 billion and has supported two models related to manufacturing continuous concrete mixer and galvanizing steel mesh with uninterrupted electric ovens this year.
The Hong Phat Co. Ltd which is located in the Hoa Xa Industrial Park in Nam Dinh Province is involved in the steel mesh galvanizing model. It has received total investment of VND13.2 billion, including VND325.3 million in national industry promotion funding. This model is expected to galvanize 8,000 tonnes of steel mesh annually.
According to the company, electric ovens are superior to coal-burning alternatives in terms of start, heating stability and cost. Galvanized steel mesh products can now meet strict durability and anti-erosion criteria and are highly competitive.
The model is expected to reach full designed capacity after four years of operation, take four years payback for its investment, record an annual average profit of VND2.87 billion and employ more than 60 new workers who are able to receive VND2.5 million monthly salary.
IPC1 has also supported the Quyet Tien Engineering Co., Ltd which is located in Giao Thuy District, Nam Dinh Province, to implement a continuous concrete mixer manufacturing model worth more than VND39 billion, including VND323.8 million as national industry promotion funding.
“We expect that it would take six years or to repay the investment into this modern production line based on stable and effective production capacity. The model is expected to yield an annual average profit of more than VND10 billion and employ about 200 workers who are able to receive VND2.5-3.5 million monthly salary. Although small, the national industry promotion funding has encouraged us to improve investment in order to produce highly-competitive, quality products,” said Director of the Quyet Tien Engineering Co., Ltd Le Huy Diep.
These two models are two among a range of technical demonstration models IPC1 has supported since the beginning of the year. These models are typical for applying new technologies and equipment to production based on local potential and should be replicated in the future.