Thai Firm to Build $220Mln Packing Plant in Southern Province

Kraft Vina of Thailand’s Siam Cement Group on January 29 received a license to invest $220 million in building a high-quality packing factory in the southern province of Binh Duong, state media reports.

 

The Thai company plans to pour $136 million in the first phase, building a 40 ha factory in My Phuoc 3 Industrial Zone, to begin in March this year and be fully operational two years later with a yearly output of 220,000 tons.

 

This is the province's first FDI project in 2007 and also one of the country's three largest foreign invested pulp projects - all located in Binh Duong.

 

Siam Cement is one of Thailand's largest industrial groups involved in producing construction material, petrochemicals, paper and pulp, with average annual revenue of $5 billion.

 

The My Phuoc 1, 2, and 3 industrial zones have so far attracted nearly 200 FDI projects from 18 countries and territories, including the US, France, Germany, Switzerland, Norway, Australia, Japan, the Republic of Korea, Thailand and Malaysia, with total capital of $1.4 billion.