Marubeni Group from Japan on Thursday kicked off construction on its new paperboard mill project, worth VND4.81 trillion (US$206 million), in the southern province of Ba Ria – Vung Tau.

Spanning 15ha in Phu My 3 Industrial Zone (IZ), the plant has a designed production capacity of 400.000 tonnes of products annually, thuonghieucongluan.com.vn reported.

The plant is slated for completion in November 2020, the news website said.

Head of Ba Ria-Vung Tau IZs Authority Nguyen Anh Triet said he hoped that the plant would make effective contributions to fostering not only provincial socio-economic development, creating more local jobs, but also the growth of the nation’s paper production industry once it comes into operation.

Local authorities will create the most favourable condition for the investor in implementing its project, Triet said.

Marubeni is one of the largest general trading enterprises in Japan. The group specialises in a wide variety of sectors including food, consumer goods, chemicals, forestry products, energy, machinery and transport, electricity and paper production.

Ba Ria – Vung Tau has to date attracted 351 foreign-invested projects with total registered capital of about $27.18 billion. Among 27 countries and territories investing in the province, Japan ranked fifth with 31 projects, valued at $2.25 billion. — VNS