Groundbreaking ceremony of 2,300 billion VND high-tech project in Hai Phong

Deputy Prime Minister Tran Luu Quang attended and pressed the button to start construction of the Ecovance high-tech biodegradable materials factory project, in Dinh Vu - Cat Hai Economic Zone (Hai Phong City).

On the afternoon of May 11, the Hai Phong People's Committee held a groundbreaking ceremony for the Ecovance high-tech biodegradable materials factory project. Deputy Prime Minister Tran Luu Quang attended and pressed the button to start the project.

The Ecovance high-tech biodegradable material factory project is being built in Dinh Vu Industrial Park, Dinh Vu - Cat Hai Economic Zone ( Hai Phong City). The project is expected to expand businessinvestment , as well as attract supporting investors to Hai Phong.

Project perspective (Photo: Provided by BTC).

The project's groundbreaking concretizes the Government 's decision to approve the Hai Phong City planning for the 2021-2030 period, with a vision to 2050, prioritizing the development of key industries that play a leading role in economic growth.

This is the first project of a Korean corporation (a unit specializing in the production of secondary batteries, semiconductor materials, and environmentally friendly materials) directly implemented in Vietnam.

The total investment capital of the project is more than 2,300 billion VND from investors' capital and mobilized capital. It is expected that by 2030, the total investment capital of the project will reach more than 11,800 billion VND.

Permanent Vice Chairman of Hai Phong City People's Committee Le Anh Quan emphasized that the project is not only a solution to reduce environmental pollution and protect the ecosystem, but also opens a new direction for the plastics industry, towards a green, circular economy.

Nguyen Duong

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