Lee&Man wants Hau Giang paper factory project completed
Lee&Man wants Hau Giang paper factory project completed
Lee&Man Company Ltd. has asked the leaders of this southern province to help it overcome obstacles so it could finish the construction of its US$1.2-billion paper factory.
Vietnamplus reported that a company representative made the request during a working session with the provincial people's committee last October 28.
The company representative admitted that after receiving its investment license from provincial authorities, the company had to put the project on hold because of the adverse effects of the global economic downturn.
Construction was also delayed for a long period because the factory failed to meet regulations on environmental protection, the representative added.
According to the representative, the company, part of of Hong Kong's Lee&Man Paper Corporation, plans to restart its project by end-2014 and make the factory fully operational by 2017.
Nguyen Thanh Nhon, deputy chairman of the provincial people's committee, gave assurances that the province would create favourable conditions for the business as soon as Lee&Man would commit to its plan.
Located on a 200ha area, the Hau Giang paper factory remains the biggest purely foreign-invested project in the province since it began in 2004.
The project will have an initial capacity of 630,000 tonnes per year, then this will be increased to more than two million tonnes per year. It was expected to create hundreds of jobs for provincial residents and increase the provincial budget.
The project's investment license has been extended four times and is expected to be renewed for a fifth time in early 2015.
Project implementation began in Phu Huu A Commune, Chau Thanh District in August 2007, and the factory was supposed to have been scheduled for completion after 14 months of construction.
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