News Detail - Quang Tri Portal
Work begins on Kim Tin Quang Binh Welding Materials Factory
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Chairman of the Provincial People's Committee grants Certificate of Investment to Kim Tin Corporation |
The facility, which is invested at VND 130 billion (around US$ 6.2 million), will be completed within a year.
The factory, covering 4.05 hectares, is the first in Quang Binh to use nano-technology for processing titanium and grinding zircon.
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Chairman of the Provincial People's Committee speaks at the ceremony |
When it is put into full operation, the factory expects to have an annual turnover of VND 700 billion (around US$ 33.5 million) and contribute VND 70-80 billion (around US$ 3.3 – 3.8 million) per year to the State budget. It will also create employment for nearly 500 local people with monthly per capita income of about VND 4 million.
The factory’s construction contributes to realising the Government’s guidelines on processing titanium rather than exporting the raw material, while at the same time increasing State budget revenues and creating more jobs for local residents, said Chairman of the Quang Binh provincial People’s Committee Nguyen Huu Hoai at the groundbreaking ceremony.
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At the groundbreaking ceremony |
Source: Nhan dan Online
