DIC, Hung Vuong Cos to Build US$50Mln Cement Factory in North
The listed DIC Investment and Trading Joint Stock Company and Hung Vuong Development Ltd. Co have recently agreed to jointly invest VND800 billion (US$50 million) to construct a cement factory in northern province of Phu Tho.
The agreement was made during DIC shareholder meeting on July 27, 2007.
The facility, named Huu Nghi 2 in the province’s Thanh Thuy district, is expected to produce 2,500 tons of clinker or one million tons of cement each day.
DIC also plans to set up a joint stock company with chartered capital of VND200 billion, of which DIC-Intraco contribute VND68 billion (34 per cent), company staffs VND19 billion (VND38 billion).
In the first half of this year, DIC obtained pre-tax profit of VND7 billion (US$437,500), equivalent to 70.4 per cent of the full-year target.
On Sep 10, DIC shares were traded at VND39,900 two in the two consecutive sessions. (VSE)
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