A Japanese company plans to manufacture plywood in the Phu An Thanh Industrial Park of Ben Luc District, the southern province of Long An.
Vina Eco Board Co and MTV Phu An Thanh Co., Ltd. officials sign the land lease at a ceremony held at the Phu An Thanh Industrial Park (IP), located in Long An Province (Photo: Phu An Thanh IP)
Vina Eco Board Co., Ltd, an affiliate of Japan’s Sumitomo Forestry Group, has signed a contract with Long An-based MTV Phu An Thanh Co., Ltd. to lease 20 hectares of land in the IP to build the plant at a cost of US$100 million.
Construction is due to begin this June and finish in November of 2011. Upon completion, the plant would operate with a design capacity of 250,000 square meters per year and employ over 400 workers.
The Japanese investor opted for Long An for this project due the abundance of cajuput in the province. Cajuput is a main material source required to produce plywood.
On the other hand, the Phu An Thanh Industrial Park is close to the Ho Chi Minh City – Trung Luong expressway, which will facilitate the transport to and from the future plant.
One of Japan’s five largest groups, Sumitomo has 121 affiliates in 67 countries around the world. In Vietnam, the group has opened three offices in Hanoi, Da Nang City, and HCMC, which engage in varied fields, from the import and export of oil, gas and chemicals to the manufacturing of iron and steel.