Indian Group Opens US$9.8-Mln Marble Processing Plant in Vietnam
India’s biggest marble producer, Alliance Minerals, May 17 commenced a wholly-owned marble processing plant costing US$9.8 million in northern port Haiphong city, state media reported Monday.
This is the first biggest project by Indian firm in northern Vietnam, and the firm will export 80 per cent of its products, mostly to the U.S. market, the Dau Tu newspaper said.
Alliance Minerals, an affiliate of the Chennai-based Gimpex Group, said the Haiphong plant had a hi-tech production line imported from Italy.
The Indian company, which is aiming to make revenues of US$100 million in the next three years, said it plans to invest an additional US$30 million in the Haiphong plant by 2011.
Alliance Minerals, that has set up a warehouse in the U.S. state of Iowa to store marble products from Vietnam, will import unworked blocks of marble from countries in the region.
Besides, the foreign company is injecting US$15 million into a limestone processing plant in the northern province of Tuyen Quang.
(Investment, VNS)
Vietnamese
