Chinfon cement to invest extra US$162m

Chinfon cement to invest extra US$162m
Published: 17 May 2004

The Chinfon Cement Haiphong Co, a joint venture between Vietnam and Taiwan’s Chinfon Group, said Monday its plan to invest another US$162m to double the capacity of its factory in Vietnam has been approved by the government.  The money will be spent to build a second cement production line in Chinfon’s factory in the northen port city of Hai Phong. The factory’s current line is able to turn out 1.4Mta cement. The new funds will bring total investment by Taiwan’s Chinfon Group in the company to US$450m, said a company spokesman.