The Asia Packaging Industries Vietnam Ltd. Company (API) inaugurated an aluminium can factory in My Phuoc industrial zone in the southern province of Binh Duong on March 21.

The modern factory has a design capacity of 450 million aluminium cans a year in service of breweries and soft-drink makers. It covers an area of 7 ha and provides jobs for 200 locals, including 80 engineers and technicians.

The API Vietnam is a US$40-million wholly foreign owned joint venture with the Toyo Seikan Kaisha (TSK), the world's biggest packaging maker, holding 55 percent of the stock. The remaining 45 percent is held by Davelyn Steel Company from Hong Kong, a leading Southeast Asian metal packaging maker.

The new factory has brought the number of projects operational in My Phuoc industrial zone to a total of almost 200. Investment came from 16 countries and territories from around the world, totalling over US$1.4 billion and providing jobs for over 28,000 workers.