PM Okays US$500Mln Rubber Complex in Central Highland
Prime Minister Nguyen Tan Dung has given a nod to a rubber complex with initially estimated investment of nearly VND8,000 billion (US$500 million, in central highland Gia Lai province.
The complex will include a rubber-processing factory, designed to be capable of producing two million rubber products a year, a rubber additive processing factory, and a rubber engineering factory.
The complex will be jointly built by Vietnam Rubber Group (VRG), Vietnam Chemicals Corp. (Vinachem), Hoang Anh Gia Lai JSC and Duc Long Construction Co., in early 2008.
Vietnam expects to increase its total rubber output to 560,000-570,000 tons in 2007, up by some 10,000-20,000 tons from last year, official from the Vietnam Rubber Association (VRA) said.
The output is expected to reach 1.4 million tons in 2020 as the country will expand rubber plantation area to 700,000ha from current 480,000ha. (Vanguard)
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