10:40 | 01/08/2017 Economy
The construction of an ultra-clear float glass factory, the first of its kind in Vietnam, kicked off at the Phu My 2 Industrial Park in Tan Thanh district, the southern province of Ba Ria-Vung Tau, on July 24.
|The construction of the first ultra-clear float glass factory in Vietnam starts in Tan Thanh district, Ba Ria-Vung Tau, on July 24 - Photo: baoxaydung.com.vn|
Phase I of the plant, owned by the Phu My Ultra Clear Float Glass Co. Ltd, will be carried out from now to 2018 and has total investment of 2.6 trillion VND (about 114.4 million USD). When operational, it is set to produce 600 tonnes of the product a day.
Phase II will be built from 2019 to 2022, raising the factory’s capacity to 900 tonnes per day.
China’s Kaisheng Science & Technology Group Co., one of the three founders of the Phu My company, pledged to purchase all ultra-clear float glass of the factory.
With charter capital of 886 billion VND (39 million USD), the Phu My Ultra Clear Float Glass Co. Ltd was established by the Viglacera Corporation, the Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO), and the Kaisheng group.
The factory in Ba Ria-Vung Tau is one of the two ultra-clear float glass plants expected to be constructed in Vietnam. The other is in northern Bac Ninh province. The Prime Minister approved in principle the construction of these plants in 2016.