Chairman of the People's Committee of southern Binh Duong province Tran Van Nam (R) presents the investment licence to Cheng Loong Corporation Chairman Su Yun Cheng. (Source: VNA)

Binh Duong (VNA) – The People’s Committee of southern Binh Duong province granted an investment license to Taiwan-based Cheng Loong Binh Duong Paper Ltd, Co. on December 4 for the construction of a 1-billion-USD paper plant.

It is the largest foreign direct investment project in the locality in 2015.

The 75-hectare plant will be located at Singapore Ascendas – Protrade Industrial Park in Ben Cat district. It is designed to produce 1 million tonnes of industrial paper and 50,000 tonnes of household paper per year.

The first phase of the project will start in December and is expected to be operational by January 2018.

According to Chairman of Cheng Loong Corporation in Taiwan Su Yun Cheng, the Binh Duong project is the firm’s biggest overseas project, as well as its biggest paper plant to date.

Chairman of the Provincial People’s Committee Tran Van Nam vowed to create favourable conditions for the building and operation of the plant.-VNA