Paper producer to pump US$ 628 mil. into Hậu Giang
VNGOP - Hong Kong-based Lee & Man Paper Manufacturing will pour US$ 628 million into two packaging paper and pulp mills in the Mekong Delta province of Hậu Giang.
Lee & Man Vietnam Paper and Lee & Man Pulp - two subsidiaries of the group, received their 50-year operations investment licenses from provincial authorities on June 27.
Both projects will be located in the Sông Hậu Industrial Zone, with the US$ 280 million paper plant expected to produce 420,000 tons of product yearly, while the US$ 348 million mill churn out over 330,000 tons of paper pulp per year.
The plants will make a massive boost to domestic production capacity as to date the entire national paper output hovers around 1.13 million tons and paper pulp production sits at 905,000 tons yearly.
Forecasts predict that Vietnam will need to import around 232,000 tons of pulp and 914,000 tons of paper in 2007 to meet domestic consumption demands.
