RK Engineering, a wholly foreign invested company from Japan on Mar. 29 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 are aiming to provide high quality products to the Asian market at competitive prices.

The 14 million USD project will process 300 to 480 billion tonnes of products annually to serve the petrochemical and food industries.

Most of their finished products will 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.

Nippon Kyohan is one of six Japanese tenants at the IZ, which has attracted more than 43 projects with total investment of 41.54 billion USD, of which Japanese investment represents approximately 45 percent.-VNA