Chairman of the Binh Duong People's Committee Tran Van Nam granted an investment licence for Taiwan–based Cheng Loong Binh Duong Paper Ltd, Co. The project worth US$ 1billion and will produce one million tonnes of industrial paper per year. — Photo baobinhduong.vn

HA NOI (Biz Hub) — The southern Binh Duong Province's People's Committee granted the Taiwan–based Cheng Loong Binh Duong Paper Ltd, Co. an investment licence on December 4 for constructing a US$1-billion paper plant.

The 80ha plant will be located in the Singapore Ascendas-Protrade Industrial Park in Ben Cat District. It is expected to produce one million tonnes of industrial paper and 50,000 tonnes of household paper per year.

The construction of the first phase of the project will start in December this year and the plant is expected to become operational in 2018.

Speaking at a ceremony held to hand over the licence, Chairman of the Provincial People's Committee Tran Van Nam said the province would create favourable conditions for the construction and operation of the plant.

Taiwan's Cheng Loong Corporation has been involved in the paper industry for more than 50 years. The company has 29 paper plants in many countries, such as China, Japan and the United States. — VNS