12/05/2024
Factory For High-Tech Biodegradable Materials In Dinh Vu Ez To Begin Construction
On May 11th, in Dinh Vu Industrial Zone of the Dinh Vu - Cat Hai Economic Zone, Hai Phong City People’s Committee, in collaboration with Ecovance Vietnam Co. Ltd., hosted the ground-breaking ceremony for the ECOVANCE Factory for Biodegradable Materials. The groundbreaking event celebrates the 69th Anniversary of Hai Phong Liberation Day (May 13, 1955 - May 13, 2024), the Red Flamboyant Flower Festival - Hai Phong 2024, and commemorative days in May.
Attending the groundbreaking ceremony were Mr. Tran Luu Quang, Member of the Party Central Committee, Deputy Prime Minister; Mr. Nguyen Hoang Giang, Deputy Minister of Science and Technology; Mr. Choi Young Sam, Ambassador Extraordinary and Plenipotentiary of South Korea to Vietnam; Leaders of the Korean Business Association in Vietnam, along with leaders of SKC Group. The ceremony also witnessed the attendance of leaders of departments, branches, units, and localities in Hai Phong City.
ECOVANCE high-tech biodegradable materials factory project of investor Ecovance Co.Ltd has a total investment of nearly 2,400 billion VND (equivalent to 100 million USD); It is expected that by 2030, the total investment capital of the Project will reach nearly 11,900 billion VND (equivalent to 500 million USD). The factory will manufacture biodegradable plastic materials and related products regarding biological materials. The production scale of PBAT biodegradable plastic products is 70,000 tons/year; PBS biodegradable plastic products are 59,500 tons/year; THF solvent product (byproduct created during PBAT production) is 6,300 tons/year.
Speaking at the groundbreaking ceremony, Permanent Vice Chairman of the City People's Committee, Mr. Le Anh Quan emphasized that alongside marking an important step forward in attracting foreign investment in high-tech and environmentally friendly materials, the groundbreaking event also affirmed the position and attractive investment environment of Hai Phong city in the country and the region.
Hai Phong City determines that economic development must be associated with environmental protection and considers this a central and thorough task. For that reason, the city always prioritizes and focuses on attracting projects applying modern, environmentally friendly technology, contributing to creating a solid foundation for a greener Hai Phong City.
The Permanent Vice Chairman requested the Investor to focus on implementing the Project to ensure quality and progress as committed and comply with relevant legal regulations for the project to go into operation. The project is scheduled to complete construction in June 2025; Test operation in July 2025 and official operation in September 2025./.
