Quang Ngai Sugar JSC plans to invest VND916 billion (US$40.7 million), equal to 64 per cent ownership, in a new sugar refinery project.— Photo hsc.com.vn

Quang Ngai Sugar JSC plans to invest VND916 billion (US$40.7 million), equal to 64 per cent ownership, in a new sugar refinery project.

The project has total capital of VND1.44 trillion and will be constructed on an area of 5,000m2, according to the firm’s resolution.

The new sugar refinery is expected to notch a capacity of 1,000 tonnes of sugar a day and operate for 50 years.

The preparation and construction of the new factory began in April, 2018, and will last until May, 2019. In six months, Quang Ngai Sugar will complete the production line and test the system.

The company also plans to make the first advance dividend payout at a 5 per cent rate in cash. It will finalise the list of beneficial shareholders on July 30 and dividend payments will be made on August 10. — VNS