An Phat Holdings officially started construction of PBAT compostable resin plant in Hai Phong on Wednesday, the first and largest green material factory in Southeast Asia, which was attended by Chairman of the National Assembly Vuong Dinh Hue.

Located in the city’s Nam Dinh Vu Industrial Park, the plant is a high-tech investment priority project. With a capacity of 30,000 tonnes per year, the plant will be completed in the next 24 months. The US$120 million factory will provide 100 per cent of An Phat Holdings material needs, beyond the goal of international export when operating.

With investment in modern technology and machinery, PBAT’s operating efficiency is highly optimised, with an average operating time of 8,400 hours, equivalent to 350 days a year. The factory also achieves high automation, which is expected to create jobs for about 200 high-quality workers.

Speaking at the ceremony, Pham Anh Duong, chairman of An Phat Holdings, said: “The project is the best and most reasonable solution to our material source: being independence in terms of raw materials supply, reducing prices to get closer to consumers and moving towards to replacing traditional plastic products.”

“An Phat Holdings will represent Viet Nam in putting its name on the global map of green materials and become a pioneer in implementing the country's commitment to achieving net-zero emissions by 2050,” he added.

Currently, An Phat Holdings has received the design of factory process and technology transfer from Technip Zimmer, the world's leading supplier of technology design and solutions for large-scale industrial plants.

Through this project, An Phat Holdings Group will complete the green circular ecosystem, become the first Vietnamese enterprise to produce bio-degradable plastic materials/products, officially participating in the world's green material network. The price of green products will decrease by 20-30 per cent when the PBAT factory comes into operation.

An Phat Holdings is the leading company in the field of advanced technology and environment-friendly plastic production in Southeast Asia; the first enterprise to export thin-film packaging, a pioneer in the development of bio-degradable plastic products and materials, as well as in the production and trade of plastic materials and the supporting industries.

It has 16 subsidiaries and more than 5,000 employees in Viet Nam and many countries around the world, including in the US, South Korea and Singapore, operating mainly in the fields of bio-degradable plastic materials and products, such as packaging, engineering plastics and moulds. The group's customers are present in more than 70 countries and regions around the world, such as Europe, the US, Japan and the United Arab Emirates. — VNS