The provincial governments of the central
Quang Ngai, and the Mekong Delta Hau Giang provinces have recently met with
investors to restart two projects worth millions of US dollars that have been
delayed for years.
On
April 18 in Quang Ngai Vo Van Thuong, general secretary of the provincial
committee of the Party, met with representatives of Taiwan’s E-United and JFE
of Japan on the implementation of the Guang Lian Dung Quat steel manufacturing
plant in the Dung Quat Economic Zone.
The two
international groups expressed their determination to complete the project as
soon as possible, while Thuong said the province is committed to creating the
most convenient conditions possible for the investors.
Guang
Lian Dung Quat steel manufacturing plant, whose main investor is the Tycoons
Worldwide Steel Vietnam Co Ltd, broke ground in October 2007, with a total
investment of more than $1 billion.
The
project’s investor was later changed, and the required capital was increased to
$4.5 billion, with the project expected to reach its first completion stage by
2013.
However,
it has since been delayed due to the lack of financial capability of the
investors.
Meanwhile,
the People’s Committee of Hau Giang Province on April 19 worked with the Lee
& Man Paper Manufacturing Ltd on a $1.2-billion project that has been
delayed since 2007.
Lee
& Man committed to continue the project’s implementation, said chairman Lee
Wan Keung.
“The
project was tardy due to the economic turbulence,” he said.
“Now
that the problems have been solved, we are committed to putting the plant into
operation by June 2013.”
The
210-hectare Hau Giang paper manufacturing plant was set to be built in the Phu
Huu A Industrial Cluster with a total investment of $1.2 billion from Lee &
Man Co Ltd.
Initiated
in 2007, however, the project has so far had only two out of ten construction
units completed.
As of
mid-2013 the assembly line, which will be capable of producing 400,000 tons of
paper a year, will become operational, said Lee.
The
chairman also demanded that the provincial people’s committee recruit 200
laborers to be trained in China, in order to provide an adequate workforce for
the plant upon its completion.
Tuoi
Tre
Business & Investment Opportunities
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