FIC to launch three new projects in 2006

Formosa Company located in Nhon Trach industrial park

(ĐN)- Secretary of the Provincial Party Committee Tran Dinh Thanh, Chairman of Dong Nai People’s Committee Vo Van Mot and Vice Chairwoman of the Provincial People’s Committee Dang Thi Kim Nguyen warmly received Mr. Chen Kun Tai, Deputy General Director of the Hung Nghiep Formosa Company Limited (FIC) yesterday, January 3, 06.

Mr. Chen Kun Tai said that FIC inaugurated and put its factory into operation to produce electricity, fiber, artificial fiber, cotton, plastic, BOPP and some other products on April 15, 2004. For fiscal 2005, FIC generated revenue of $162.2 million, 60% of which came from exports. However,  FIC’s revenue in 2005 was actually lower than the target the company established at $210 million, mostly due to difficulties in selling electricity for Vietnam Corporation of Electricity that the company faced. FIC will continue to invest to build power plant No.2 which is expected to come into operation in May, 2006. In addition, the company plans to start trial operation of a new BOPP facility after Lunar New Year. By 2006, FIC will also expand the spinning facility in order to raise its production capacity.    

The provincial leaders promised that the province would create conditions favorable to FIC for its growth and look for the most sensible way for settling their problems as soon as they could. 

Kim Loan