09:14 (GMT +7) - Saturday 18/08/2018

Business

Viglacera & IDICO to build glass factory with Chinese partner

Released at: 11:25, 22/02/2018

Viglacera & IDICO to build glass factory with Chinese partner

Photo from viglacera.com.vn

$105mn super-white floating glass factory to be built in southern Ba Ria Vung Tau province.

by My Van

The Viglacera Corporation and the Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) have cooperated recently with Chinese partner the CTIEC Corporation to invest in building a super-white floating glass factory at the Phu My II Industrial Park in southern Ba Ria Vung Tau province.

The factory will have a capacity of 600 tons of super-white float glass products with a thickness of 3-19 mm per day in the first phase and total investment of over VND2.4 trillion ($105.6 million). It will also produce and export solar batteries within 18 months.

Mr. Do Viet Phuong, General Director of the new company, the Phu My Float Glass Co., said that effective environmental protection measures will be implemented during construction and production to ensure that waste is at prescribed levels and does not cause harm to the surrounding environment. The factory will also create jobs for more than 300 local workers once operational.

Based on growth forecasts of 6.5-7 per cent for construction glass in Vietnam, demand will reach some 165 million sq m per year by 2020.

Vietnam only has the Float VGI glass factory of Japan’s Nippon Glass Company producing super-white glass for export at present, making the new Ba Ria Vung Tau factory a much-needed addition to the industry.

According to Viglacera, Vietnam holds competitive advantages over its Chinese counterparts in super-white glass production due to preferential tariffs on exports to countries in Southeast Asia.

User comment (0)

Send comment