Ho Chi Minh City-based An Viet Phat Energy Company has broken ground on a VND1,200 billion (US$51.6 million) timber processing factory in the Vung Ang Economic Zone in Ky Anh township of the central province of Ha Tinh, a province in the North Central coast of Vietnam, Vietnam News reported.
The lumber, compressed wood pellets and plywood processing factory sits on a site that occupies 155,000 square metres.
The factory has an expected annual capacity of 56,160 tons; 150,000 tons and 187,200 tons for lumber, compressed wood pellets and plywood respectively whereas waste products collected from lumber and plywood production is estimated at a yearly 224,640 tons.
The new plant will help satisfy demand from domestic and export markets, attracting supporting projects in the Vung Ang Economic Zone and creating more jobs for local residents.