5:28:46 PM | 3/1/2007
The Youngsun Wolfram Vietnam Industry Co. Ltd. on December 30 received an investment license to pour US$16 million into a foreign direct investment (FDI) project to produce wolfram alloy for export in the northeastern province of Quang Ninh.
The plant, covering 2.5 ha in the Cai Lan Industrial Park (IP), is designed to have a capacity of 3,000-3,500 tons of wolfram alloy annually. The project has a lifespan of 25 years.
The province, from December 26-30, licensed four wholly foreign-owned projects with a total investment capital of nearly US$20.4 million to operate in the Cai Lan and Hai Yen IPs.
As of late November, Quang Ninh had pulled in US$585.48 billion in 79 FDI projects, standing 13th nationwide. (VNA)