Chinfon launches $161m cement production line

Taiwanese Chinfon Cement Corporation yesterday opened the second production line of cement in Hai Phong with the total investment capital of approximately US$161.7 million.

After the completion of the second production line, daily clinker yield will be 9,000 tonnes, and annual cement output will be able to reach 3.5 million tonnes.

Speaking at the opening ceremony, chairman of Hai Phong People’s Committee Trinh Quang Su said he hoped that the second production line would make active contribution to city’s industrial development this year.

In another development, San Yang Viet Nam (SMV), an affiliate of the corporation, last Friday opened an auto assembly factory at Nhon Trach 2 Industrial Park in Dong Nai Province.

Built at a cost of more than $70 million, the 33ha facility includes component manufacturing, welding, assembling, testing and other units. It will have an initial capacity of 10,000 units per year.

On the occasion, SMV also launched its first product, the environment-friendly light truck SYM-T888. The company expects the truck to replace the tricycles that are popular in HCM City, but are now set to be banned.

Chinfon has invested around $1 billion in Viet Nam in various sectors like cement, motorbikes, insurance, and banking.