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Work starts on US$63.4 mln plywood factory in Ha Tinh

VGP- Construction on a VND1.44 trillion (US$63.4 million) plywood factory has started work in the central province of Ha Tinh.

December 06, 2016 11:20 AM GMT+7

Deputy Prime Minister Vuong Dinh Hue attended the ground breaking ceremony.

The Medium Density Fibreboard (MDF) manufacturing project has a total investment of VND 1,441 billion (US$63.6 million) with a designed annual capacity for the first phase of 120,000 cubicmetres and 2,400 cubic metres of wood slats.

Invested by the Thanh Thanh Dat Joint Stock Company, the facility will be built on an area of 18 hectares in the Vu Quang industrial cluster in VuQuang district.

The factory is expected to start operation in the fourth quarter of 2019.

The project aims to fully tap the local forest potential in line with the province’s planning for forest development for wood processing from 2013 to 2020, and a vision through 2030.

It is expected to create jobs for local residents, increase local budget collection and contribute to socio-economic development in Ha Tinh province.

Addressing the groundbreaking ceremony, Chairman of Ha Tinh provincial People’s Committee Dang Quoc Khanh asked local authorities of VuQuang district to work closely with the investor to accelerate land clearance for the project.

He also requested to ensure the most favourable conditions for the investor to ensure the progress of the project.

                                                                                                                                        By Vien Nhu