Tokyo (Viet Nam News/ANN) - Japan's
Shin-Etsu Chemical Co 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 5 billion JPY (roughly US$64
million).
In its press release, the largest chemical
producer of Japan said 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 .
The 2 billion JPY plant, which is expected to
process 1,000 tonnes of rare earth minerals annually, will be Shin-Etsu's first
such facility outside Japan and is slated to come onstream in February, 2013.
The Vietnamese operation is likely to help
reduce the company's reliance on China for raw materials.
Meanwhile, Shin-Etsu Electronics Materials
Vietnam Co., Ltd. will manufacture silicone-based materials for high-brightness
LED lights at a facility to be built on 50,000 sq.m. at Thang Long 2 Industrial
Park in the northern province of Hung Yen, at a total cost of 3 billion JPY.
News Desk in Tokyo/Viet Nam News | Asia News
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