Cement plant in Vietnam

Cement plant in Vietnam

HANOI (AFP): A Taiwanese company, Lucky Cement, is to build a joint venture 265 million dollar cement plant in the Northern province of Hai Hung, an official said.

Lucky Cement is to hold a 65 percent stake in the joint venture licensed last week with the Hai Hung Cement Co. and the Hai Hung Industrial and Commercial Bank, a bank official told AFP.

The venture would build a cement plant in the Phuc Son area in Kim Mon district which was planned to come to operations by 1999, the official said, adding that the plant would have a designed capacity of 1.8-to-2.0 million tons of cement a year.

Foreign investors are participating in five cement projects worth a total US$1.165 billion in Vietnam with a total designed capacity of 7.7 million tons a year.