On the afternoon of December 4 in Ba Ria - Vung Tau, Hyosung Group (Korea) had a meeting with the Provincial People's Committee on continuing to invest in a second project with an investment capital of about 720 million USD, in addition to the project Carbon fiber factory with an investment capital of about 560 million USD, was granted an investment certificate on June 29, 2023 in Phu My 2 Industrial Park, invested by IDICO.
Accordingly, after the survey, Hyosung Group decided to invest in the next large-scale project in Ba Ria - Vung Tau. It is a factory producing biofiber (material for making spandex fabric) from raw sugar, worth about 720 million USD in Phu My 2 Industrial Park. This is one of the first projects not only of Hyosung, but also of the world use modern technology to produce this type of material.
Representatives of Hyosung Group have made some proposals on importing and building raw material sources; labor resource training; Build a fuel pipeline from Hyosung's warehouse to the production plant...
Image: Quang Vinh - Ba Ria Vung Tau Newspaper
Speaking at the conclusion of the meeting, Chairman of the Provincial People's Committee Nguyen Van Tho thanked Hyosung Group leaders for trusting and continuing to choose Ba Ria - Vung Tau as an investment destination. Regarding the project that Hyosung is planning to invest in, Mr. Nguyen Van Tho requested that the Management Board of Industrial Parks and leaders of relevant departments and branches support businesses to quickly complete the procedures. The Chairman of the Provincial People's Committee also wants businesses and the government to work urgently to get the project up and running quickly. "Regarding the recommendations of businesses, the province is committed to providing the best support to investors in accordance with the provisions of law and the province, so that the factory will soon become a reality," the Chairman of the Provincial People's Committee emphasized.
According to Ba Ria Vung Tau Newspaper
IDICO is one of the leading investors and developers of industrial parks in Vietnam, with a scale of 10 industrial parks and a total land area of 3,500 hectares. IDICO is always committed to providing synchronous, high-quality industrial park infrastructure according to the sustainable development orientation of ESG, to meet strict investment requirements from global investors.
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