Construction on the first fibre factory in Vietnam commenced on June 3 in Loc An-Binh Son Industrial Park in Long Thanh district, the southern province of Dong Nai.

Invested by Dong-Il Corporation from the Republic of Korea (RoK), the 52 million USD factory will cover an area of 12 hectares. It will have a capacity of producing 9,000 tonnes of products every year to export to Asian markets.

Constructed by Posco E&C Vietnam, the facility is expected to be completed by 2015, employing hundreds of workers.

According to Phan Thi My Thanh, Vice Chairwoman of the provincial People’s Committee, Dong Nai has 35 industrial parks located in a combined area of nearly 10,000 hectares.

The province is currently hosting over 1,100 foreign–invested projects totalling 20.6 billion USD, she said. The RoK remains the second largest investor in Dong Nai with 276 projects worth 4 billion USD, added the official.-VNA