Inekon Group will commence construction of the Phu Son cement works in Vietnam for almost CZK3bn. The investment into construction will according to general manager Josef Husek total EUR156m (CZK3.931bn). The project investor is Vietnamese company Phu Son Cement. Once completed, the cement works will provide roughly 300 jobs. A loan worth roughly CZK 2.5bn has been provided by PPF Banka.
The company added that the loan was insured by the Export Guarantee and Insurance Corporation. Other Czech companies are also involved in the contract, namely PSP Engineering Prerov, Siemens Engineering and PSG-International. Actual construction will be undertaken by Vietnamese subcontracting companies. The project should be completed within 30 months.