Paper manufacturing facility shaping up in Ba Ria-Vung Tau
(VOV) - A Taiwanese company, Cheng Long Group, has announced plans to construct a US$1 billion industrial paper processing plant with a capacity of over 1 million tonnes annually in the southern province of Ba Ria-Vung Tau.
The project was first mentioned in a dialogue between Cheng Long Group CEO Tong Ho Tsai and Ba Ria-Vung Tau provincial People’s Committee Vice Chairman Ho Van Nien in July 2014.
The Taiwanese group, specializing in providing paper for big groups such as Apple and Nike, currently has 29 paper plants throughout the world and two in Vietnam. The proposal facility has received the tentative approval of Ba Ria-Vung Tau’s local authorities along with their commitmentto create the best possible conditions for the project to be granted an investment certificate in the near future.
Apart from the project, Cheng Long Group is keen on investing in a power plant using coal biomass energy in Ba Ria-Vung Tau province.