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.