The Japanese group, Marubeni, has started the construction of paperboard mill plant in the North of Ba Ria Vung Tau Province in January, 2019. The project which is worth VND 4.81 trillion (USD 206 million) comprises a total area of 15ha in Phu My 3 Industrial Zone (IZ). The designed capacity is said to be at 400,000 tons annually. Commercial production will commence in the second half of 2020
The head of authority in the province hopes the new mill will make effective contributions to fostering provincial socio-economic development and create more jobs for local people and local enterprises. Ba Ria Vung Tau has attracted 351 foreign-invested projects with total registered capital of USD 27.18 billion. Japan ranked fifth among 27 nations with 31 projects, valued at USD 2.25 billion. Furthermore the production will also aid the business of packaging paper, which is forecast to grow at the rate of 15% over the next 10 years.
(Source: Vietnam News)