The provincial people's committee of the northern province of Nam Dinh and Xuan Thien Group started construction of a large-scale prefabricated concrete structure factory in Nghia Hai Commune, Nghia Hung District, on Monday.

The project has an investment capital of VND900 billion (US$38 million) with a capacity of 350,000 tonnes per year and is expected to be completed in 24 months.

Speaking at the groundbreaking ceremony, permanent vice chairman of the provincial people's committee Tran Anh Dung emphasised that this was a large-scale investment project, positively affecting the socio-economic development of the province.

When the project goes into operation, it would contribute to economic and labour restructuring; create conditions to improve and raise people's living standards; bring high added value, create a large source of revenue for the local budget; arouse and promote the advantages and potentials of developing the marine economic zone of the province; and make an important contribution to fulfilling the goal to become one of the developed provinces of the country by 2030. — VNS