US$500Mln Planned for Bai Bang Paper Company Expansion
The Ministry of Industry (MoI) is seeking the government’s permission to invest VND8 trillion (US$500 million) in expanding the Bai Bang Paper Company in the second phase.
Of the total investment, VND5.8 trillion (US$362.5 million) is set for the upgrade of the factory and roughly VND2,007 billion (US$125.44 million) for material zones.
Accordingly, the company’s capacity will be raised to 250,000 tons of bleached pulp a year.
The project will be carried out under the EPC (engineering-procurement-construction) mode in partnership with Vietnamese contractors to manufacture a part of equipment, implement construction work and install equipment.
In 2006, the company plans to produce 100,000 tons of paper and gross a turnover of VND1.14 trillion (roughly $72 million).
At present, Vietnam has almost 300 pulp and paper mills, eight of which are the Vietnam Paper Corporation (Vinapaco)’s affiliates.
New Hanoi, Youth
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