State-owned Vietnam Industry Construction Corp, or Vinaincon, signed a contract to buy equipment valued at Euro 61.1m, or equivalent US$74.4m, from France’s FCB Cement for its cement plant which is being built at Thai Nguyen province.
The equipment will be delivered to Vinaincon’s Thai Nguyen cement plant in the next 18 months, Vinaincon said.
The plant, which is staled for operation in mid-2006, will have a production capacity of 1.5 million tons a year. Total investment costs for the plant is VND2.83 trillion, or US$179.3m.
Vietnam’s demand for cement is growing high, reaching 25.3Mt last year, up nearly nine per cent from the previous year.