The cement plant, to be located in central Quang Binh province, will have production line 1 capacity of 5,000 tons of clinker a day.
The project, estimated to cost a total of VND3 trillion ($187.5m), will include two mills, one in Tuyen Hoa district and the other in Bo Trach district.
Construction is estimated to be completed within 36 months of being granted a construction license.