Knauf Vietnam Co ., Ltd. inaugurated its gypsum board manufacturing plant in the northern port city of Hai Phong on October 30 after nearly two years of construction.
The plant, worth 30 million EUR (32.9 million USD), is one of the biggest foreign direct investment (FDI) projects in the city.
Covering nearly 63,000 square metres in Dinh Vu industrial park, the plant is expected to produce 12 million square metre gypsum board and 15 million linear metre metal profile on an annual basis.
General Director David Victor said the company has just launched two distributors in Vietnam , one in the south and one in the north.
He expressed his belief that the plant will help the company gain a considerable market share in Vietnam and the north in particular.
Vice Chairman of the provincial People’s Committee Le Thanh Son said the city will create the best condition for the company to implement its manufacturing activities.
In the first nine months of 2016, Hai Phong led the country by attracting 2.7 billion USD in FDI, five times against the same period last year and surpassing over 42 percent of the yearly target.
The city strives to draw more than 3 billion USD in FDI at the year’s end, the highest level so far.
Founded in 1932, Knauf is a multinational producer of building materials and construction systems that operates more than 220 production plants in over 60 countries.VNA