Japan's largest chemical producer invests in VN
January, 25/2012 - 18:19
TOKYO - Japan's Shin-Etsu Chemical Co will set up two companies specialising in manufacturing silicone-based materials for high-brightness LED lights, and refining rare earth minerals, with a total investment of 5 billion JPY (roughly US$64 million).
In its press release, the largest chemical producer of Japan said Shin-Etsu Magnetic Materials Vietnam Co., Ltd. will separate and refine rare earth minerals used in electronics production, at a complex to be built on 80,000 sq.m. at Dinh Vu Industrial Park in the northern port city of Hai Phong .
The 2 billion JPY plant, which is expected to process 1,000 tonnes of rare earth minerals annually, will be Shin-Etsu's first such facility outside Japan and is slated to come onstream in February, 2013.
The Vietnamese operation is likely to help reduce the company's reliance on China for raw materials.
Meanwhile, Shin-Etsu Electronics Materials Vietnam Co., Ltd. will manufacture silicone-based materials for high-brightness LED lights at a facility to be built on 50,000 sq.m. at Thang Long 2 Industrial Park in the northern province of Hung Yen, at a total cost of 3 billion JPY. - VNA