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Province revokes licence from paper mill project

Update: August, 25/2012 - 09:10

QUANG NAM — The People's Committee of the central province of Quang Nam has decided to withdraw its permission to build a paper pulp mill, which would have been capitalised at VND3.1 trillion (US$148 million).

The mill in Tam Dan Commune, Phu Ninh District, was to be built by Incomex Paper Pulp and Paper Joint Stock Co (IPP) to produce 115,000 tonnes a year.

The investor has failed to contribute 20 per cent of the project's total investment capital after six years of receiving its investment licence.-VNS

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