President Nguyen Minh Triet attended an inauguration ceremony December 28 for the Fico Cement Plant held by the Building Materials Corporation No.1 With total invested capital of VND3 trillion (US$157 million), the plant is reportedly the largest producer of cement and clinker in the southern region.
At the ceremony, President Triet presented the Independent Order of first class to the Building Materials Corporation No.1 under the Ministry of Construction. Speaking at the ceremony, President Triet congratulated company staff saying they had achieved a good performance and deserved recognition.
Despite challenges, the project finished on schedule and is working effectively, he added, emphasizing that it will also play an important role in boosting the local economy. The plant is now operating after 25 months of construction, with a design capacity of 1.5Mt tons of cement a year in the first phase. It will double its current capacity in the second phase.