Thai Binh Xanh JSC and the Finnish group Poyry on Friday held discussions with Quang Tri Province’s People’s Committee on a paper mill project, worth VND11.6 trillion (nearly US$500 million).

The paper mill is designed to produce 300,000-700,000 tonnes of products each year. Construction is scheduled to start in 2020.

Thai Binh Xanh and Poyry are committed to installing the mill with modern, environmentally-friendly technologies and machines to respond to the province’s concerns about potential environmental risks.

The provincial’s People Committee agreed with the two companies’ proposals and assigned the province’s economic zone management department to work with other departments and sectors to support the development of the project.

According to the provincial People’s Committee Vice Chairman Nguyen Quan Chinh, the province has an abundant area of wood (more than 100,000 hectares) that meets the project requirement regarding input supplies.

In addition, the Southeast Economic Zone in the province would be suitable for the two investors to build the paper mill, and the province will offer them incentives for their investment project. — VNS