Viglacera sets up construction material joint venture in Cuba
The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) and the Cuba Industrial Construction Group (Geicon) have contributed over US$39.8 million in chartered capital to set up a joint venture to produce construction materials in Cuba.
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It will also complete all necessary documents to establish the Prodimat commercial company that owns property and land use rights of the two factories.
Meanwhile, Viglacera will designate or set up a new company to conclude the contract with Prodimat while upgrading two factories producing ceramic tiles and sanitary ware.
The two sides will continue completing the feasibility study and submit to Vietnamese and Cuban authorised agencies for approval.