US$7.5m Ha Tinh factory breaks ground

Monday, Mar 26, 2018 10:24

Construction began on a mechanical products, machinery and spare parts factory last week inside the Ha Tinh located-Vung Ang Economic Zone. — Photo baohatinh.vn

Construction began on a mechanical products, machinery and spare parts factory last week inside the Ha Tinh located-Vung Ang Economic Zone.

Financed by UP Ha Tinh Limited Co to the tune of VND170.8 billion (US$7.5 million), the 25,900 square-metre factory is designed to produce 1,800 steel mills and rollers annually, along with 100 conveyer belt rollers, 500 tonnes of wear-resistant plates and 800 tonnes of mechanic products per year.

Togther with the Formosa Ha Tinh project, the factory is expected to create a production chain in the province’s steel industry, according to local authorities.

This is the second project built in Phu Vinh after the zone completed its infrastructure system. The zone is now home to four foreign-invested projects with capital totaling $23.3 million. — VNS

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