Nippon to build glass plant

Nippon to build glass plant

HANOI (AFP): Japan's Nippon Sheet Glass Corp. (NSG) has
received a license to build a US$145 million float glass plant in
Vietnam, a report said yesterday.

NSG is to take a 70-percent stake in the new glass plant with
two local partners, the Saigon Times daily reported.

Construction Materials Corp. Number 1, which functions under
the ministry of Construction, and the Construction Materials and
Techniques company of the province of Ba Ria Vung Tau will
sharing the balance.

The plant will manufacture high-quality float glass widely
used as cladding for office buildings and hotels.
Some 30 percent of the production will be exported to
neighboring countries.

The project is licensed for 48 years.