Speaking at the groundbreaking ceremony, Nguyen Thanh Long, vice chairman of the provincial People’s Committee, expressed his belief that Yoshino Gypsum Vietnam’s gypsum factory will help improve the overall production technological level and generate jobs throughout the locality.
The factory will provide gypsum products that meet Japanese standards of quality to the construction materials market and construction projects nationwide, Mr Long added.
He noted that Ba Ria Vung Tau will continue to improve its business climate and facilitate the operations and construction processes of businesses.
Sudo Eisaku, Chairman and CEO of Yoshino Gypsum Vietnam Co, Ltd, said that Yoshino Gypsum of Japan is to be the main investor of the Yoshino Gypsum Vietnam Phu My factory, which will receive investment entirely from Japan.
The project has received a total investment capital of US$50 million and the site covers an area of nearly 6.3 hectares in the Phu My 3 Specialized Industrial Park.
The project will be divided into two phases and is expected to put into operation by December 2020.
Yoshino Gypsum will apply the most advanced Japanese technologies to produce gypsum products for the Vietnamese market.
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