Vietnam Rubber Group and the South Korean Donghwa Group inaugurated a medium-density fiberboard wood factory on August 28 at Minh Hung III Industrial Park in Minh Hung Commune of Chon Thanh District in Binh Phuoc Province.
The MDF VRG Donghwa Wood Factory is the biggest medium-density fiberboard wood factory in Asia with capacity to produce of 1,000 cubic meters of fiberboards in a day and 300,000 cubic meters in one year.
The factory has been built over an area of 38.46 hectares at a total cost of US$125 million. After two years under construction, the factory produced its first fiberboard made from rubber branches on February 24 this year. About 50 percent of the factory’s production will be exported to South Korea and some other countries.
This year, the factory is expected to generate more than VND1 trillion and contribute VND50 billion to the national budget. In the next few years, the factory is expected to generate VND1.5 trillion with its budget contribution touching VND80 billion.
The MDF VRG Donghwa Wood Factory is providing 300-500 jobs for local residents and helping thousands of households in Binh Phuoc Province to consume recycled wood.
The inaugural ceremony of the factory was held in the presence of former President Nguyen Minh Triet. Also present were Nguyen Tan Hung, party committee secretary and chairman of the People’s Committee of Binh Phuoc Province; the Consulate General of South Korea in Ho Chi Minh City; and representatives of Vietnam Rubber Group.