HAI PHONG — RK Engineering, a wholly foreign invested company from Japan yesterday inaugurated a high-pressure resistance tank, tank top, heatproof material and equipment plant in Dinh Vu Industrial Zone in the northern city of Hai Phong.
Speaking at the inauguration ceremony, the company's general director Yuzuru Tsuchiya said they were aiming to provide high quality products to the Asian market at competitive prices.
The US$14 million project would process 300 to 480 billion tonnes of products annually to serve the petrochemical and food industries.
Most of their finished products would be exported to Japan and other Asian countries.
Construction of the plant started last July, and it should be ready to go into operation next month as scheduled.
It will create jobs for 40 people initially, and 100 employees when it is fully operational.
Nippon Kyohan is the company's main investor.
Nippon Kyohan selected the Dinh Vu IZ because of its strategic location, access to the port, reliable utilities and tax incentives.
After the development of its first phase of 164ha, the IZ is currently developing and marketing its second phase of 377ha.
A 20,000dwt wharf and new waste water treatment plant are now operational.
The IZ is proud to have Nippon Kyohan as one of six Japanese tenants. It has attracted more than 43 projects with total investment of $41.54 billion, of which Japanese investment represents approximately 45 per cent.
It is expected to appeal to many Japanese investors and other nations, with total investment of $205 million projected by the end of this year.
It has welcomed clients in the petrochemical, heavy industry and general light industry sectors, such as Nakashima, Bridgestone, Shin-etsu, Shell, Chervon, PVTEX, Vinachem, Petrolimex, Dinh Vu Steel Plant, Proconco, Toyota Tsusho and Mitani. — VNS