4:25:20 PM | 20/8/2007
An Hoa Paper Joint Stock Company has asked for permission from the Industry Ministry and Tuyen Quang’s People Committee to add VND2 trillion (US$123.5 million) to a new high quality paper production system, raising the company’s total investment in the An Hoa paper and pulp project to VND5 trillion (US$310 million).
The system, with an annual capacity of 120,000 tons of paper, is expected to meet some of the domestic market's increasing demand for quality paper.
The company is now carrying out the first phase of the project, into which it pumped VND3 trillion (US$185.2 million) to install pulp and paper processing lines with designed capacity of 130,000 tons of pulp a year.
The An Hoa paper and pulp mill, covering 222 hectares in Long Binh An IZ, Vinh Loi commune, Son Duong district, is the biggest project in the northern province.
It is estimated to consume around 500,000 tons of timber and 200,000 tons of bamboo annually when it comes into fully operation. The company signed contract with Tuyen Quang province to use 72,000ha of forest here.
The mill is scheduled to run in the second quarter of 2009 after three years of construction. (Vietnam & World Economy)