The People’s Committee of Binh Phuoc Province has issued Decision No. 1875/QD-UBND to hand over to Thaigroup JSC for the construction of the Minh Tam Cement Plant.

Accordingly, the provincial People’s Committee decided to reclaim 42,431.9sq.m of land managed by the People’s Committee of Hon Quan District, for Thaigroup to begin construction. The total area of 430,612.4sq.m, including 42,431.9sq.m above and 388,180.5sq.m of other land, is from households which have been compensated for the construction site of the Minh Tam plant.

Under the decision, agencies and units, including the Department of Natural Resources and Environment, shall direct the Land Registration Office to compile dossiers for the determination of cadastral information on land plots and send it to competent authorities to determine Thaigroup’s financial obligations and adjust the cadastral file in accordance with the regulations.

In early 2017, Thaigroup started the construction of Minh Tam Plant after purchasing the Minh Tam Cement project from its former owner, Mien Dong Joint Stock Company, which was facing financial difficulties.

The Minh Tam cement plant uses advanced European methods, ensuring environmental standards are maintained. The project covers an area of ​​400ha with total investment capital of VND12 trillion (US$515 million) and a total capacity of 4.5 million tonnes of cement per year. Construction is estimated to take two years, of which, the first phase will produce 2.6 million tonnes of cement per year with investment of nearly VND6.8 trillion. — VNS