The Viet Nam Rubber Group has set a revenue target of VND29.9 trillion for this year. — Photo tapchicaosu.vn

The Viet Nam Rubber Group (VRG) will build three more processing factories in the northern region to meet higher rubber demand in the future.

Of which, VRG’s Lai Chau Rubber Company II in 2022 will pour capital into a latex processing line, with a capacity of 5,000 tonnes a year. Also during this period, the Dien Bien Rubber Company, another subsidiary of VRG, will build a latex processing factory with a capacity of 3,000 tonnes a year.

Meanwhile, in 2025, the group’s Dau Tieng-Lao Cai Rubber Company will inject money into a latex processing factory with a capacity of 3,000 tonnes a year, to serve companies in the northeastern region.

At present, in the northern mountainous region, VRG has the Chau Thuan-Son La Rubber Processing Plant, with an annual capacity of 6,000 tonnes and the Lai Chau Rubber Processing Factory with a capacity of 5,000 tonnes a year.

In 2023, the second phase of the Lai Chau Rubber Processing Factory will start its operation with a capacity of 4,000 tonnes per year, bringing its total capacity to 9,000 tonnes per year.

These two plants are expected to meet the processing demand of the whole region.

VRG has set a revenue target of VND29.9 trillion and pre-tax profit of VND5.8 trillion for this year. They are VND110 billion higher than the revenue of last year and 13 per cent higher than the pre-tax profit year on year.

The group operates in five business areas including rubber latex processing, production of rubber products, industrial parks, wood processing and high-tech agriculture. — VNS