The construction of a cement project started in Thanh Thuy commune, Thanh Liem district, northern Ha Nam province on April 27 in the presence of State President Nguyen Minh Triet.
The project is a joint venture between the Hoa Phat Group and the Asian Commercial Joint Stock Bank (ACB).
According to Chu Quang Vu, Director of the Hoa Phat Cement Company, the project is implemented in two phases with the first phase to be completed in the third quarter of 2008 at a cost of US$75m. By then the plant will be able to turn out 1 million tonne of cement a year. The second phase is scheduled to begin in the first quarter of 2009 to raise the plant’s capacity to Mta with projected investment of US$125m .