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Haiphong lasHaiphong hails Japanese projectst week honoured investment certificates to two Japan-backed investment projects.
Idemitsu Lube Vietnam’s lubricant production factory and Fuji Xerox Haiphong’s manufacturing base will take shape in the province.

The $31.7 million Idemitsu Lube Vietnam project will cover 60,000 square metres in Dinh Vu Industrial Zone and manufacture lubricant oils from imported base oil and additives to supply to the domestic market.

With 46 year lifespan, the project will start construction in November 2012, install equipment in July 2013 and the first commercial production is expected to be on stream by early 2014.

“We believe our project can contribute to the industries and end-users by our high performance and environmentally friendly lubricant products, especially for motorcycles and automobiles, which have approved quality by Japanese makers,” said Idemitsu Lube Vietnam’s chief executive officer Ryuji Kusaka.

“Our project will enhance the convenience for Japanese investors to get familiar lubricant oil for their efficient production in Vietnam,” he said. Meanwhile, Fuji Xerox Haiphong project will have charter capital of $36 million and the total amount of investment in this project is $113.5 million.

The project, to cover 176,700sqm in Vietnam Singapore Industrial Park with 46,700sqm reserved for building a plant, will manufacture digital colour multifunction devices and small-sized light-emitting diode (LED) printers, as well as components for these devices in a capacity of two million items per year.

Construction will take place in December 2012 and the plant will be commissioned from November 2013, recruiting around 700 workers.

Haiphong City People’s Committee chairman Duong Anh Dien urged Fuji Xerox Haiphong to scale up preparations to soon kick-off construction.

“City authorities will try our best to shortly hand over space to the investor,” said Dien.

(VIR)

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