Formosa Industries Corp. is weighing a mammoth industrial project in the central province of Binh Dinh that includes a complex of artificial fabric and plastic facilities, a thermo-power plant and a port.
Formosa Industries Corp. is weighing a mammoth industrial project in the central province of Binh Dinh that includes a complex of artificial fabric and plastic facilities, a thermo-power plant and a port.
The company, a subsidiary of the Taiwan-based Formosa Corp. which has poured hundreds of million of dollars in industrial facilities in southern Dong Nai Province, plans to lease some 1,000 hectares in Nhon Hoi Economic Zone in the province for building the complex. A source from the provincial government said it was ready to support the project, but find it difficult to secure a location as large as requested. The location should be near the sea to enable the investor to build a port for importing and exporting products and raw materials.
Formosa has been successful in Dong Nai Province and the company plans to expand operations to different locations in the country. The company is the largest foreign investor in Dong Nai, setting up many facilities in Nhon Trach 3 Industrial Park. After seven years in operation, it has increased its investment capital to some $950 million now.
(Source: SGT)
