Groundbreaking for over $7.4 million mechanical plant

UP Company organized a groundbreaking ceremony for a VND170 billion ( $7.4 million) mechanical production and processing plant in Vung Ang Economic Zone in the central province of Ha Tinh on March 22.

The plant is located in the area of 25,880 square meter with investment capital of over VND170 billion ($7.4 million).

The plant will produce metal rollers with capacity of 1,800 products annually and conveyor trolley at the capacity of 100 products a year, 500 tons of abrasion resistance metal sheet per year and mechanical processing products of 800 tons.

The plant will use steel made by Formosa Ha Tinh to create a close production chain.

This is the second project built in Phu Vinh Industrial Park which attracted four Foreign Direct Investment enterprises in the field of handling and recycling steel by-products, fire-proof products, manufacturing and installing mechanical products with total investment capital of $23.307 million.