Work Starts on US$200Mln Cement Plant in Ha Nam

3:23:23 PM | 3/5/2007

The Hoa Phat Group and the Asia Commercial Bank (ACB) April 27 jointly kicked off a project building a cement plant with total investment of VND3.2 trillion (US$200 million) in northern Ha Nam Province.
The domestic joint venture will carry out the project in two phases, the first due for completion in the third quarter next year at an estimated cost of VND1.2 trillion ($75 million), to turn out 1 million tons of high-quality Porland cement a year.
The second phase, costing VND2 trillion ($124.5 million), is scheduled to begin in the first quarter 2009 and raise the plant’s capacity to 3 million tons a year.
Chu Quang Vu, Director of the Hoa Phat Cement Joint Stock Company, said Germany’s Gerb. Pfeiffer A.G Group will provide the plant’s entire standing grinder system. Meanwhile, a Chinese construction material giant will design production lines and the Hoa Phat Urban Construction & Development Company, an affiliate of Hoa Phat Group, will be responsible for constructing the plant.
March cement sales were reported at 2.63 million tons, raising the first quarter total to 7.2 million tons. Stockpiled cement and clinker was estimated at 1.97 million tons in the period. (VNA Apr 27, Thanh Nien Daily)