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A view of Nghi Son Economic Zone<\/span><\/em><\/p>\n Duc Giang Chemical Group revealed plans to commence construction on the Duc Giang Chemical Complex project situated in the Nghi Son Economic Zone of Thanh Hoa province in a recent announcement preceding the 2024 General Meeting of Shareholders.<\/p>\n After four years of meticulous planning and pursuit, the project is poised to break ground in June this year, marking a pivotal juncture in the region’s industrial development.<\/p>\n Spanning approximately 30 hectares, the Duc Giang Nghi Son chemical complex, spearheaded by Duc Giang – Nghi Son One Member Company Limited, is slated to produce 136,000 tons of chemicals annually, with an initial investment outlay of $94.1 million for Phase 1, culminating in a total investment of $470 million across three phases.<\/p>\n Positioned to cater to Vietnam’s burgeoning industrial sectors, the project is set to introduce a range of essential chemicals, including compounds derived from chlorine gas, ChloraminB, and Phosphite acid, serving as disinfectants and viable substitutes for imported equivalents.<\/p>\n Anticipated to stimulate local economic activity, the complex aims to leverage indigenous resources such as limestone and salt, thereby fostering ancillary business opportunities.<\/p>\n Notably, the Duc Giang – Nghi Son Chemical Complex encompasses three distinct projects. Project No. 2 focuses on solid soda ash and PVC plastic production, with a budget of $235.3 million, while Project No. 3 entails the establishment of a Soda Factory with an investment of $141.2 million.<\/p>\n Upon full operationalization, the complex is poised to emerge as Vietnam’s premier chemical hub, aligned with Thanh Hoa’s vision to establish Industrial Park No. 15 (Dong Vang Industrial Park) as a nucleus for chemical manufacturing.<\/p>\n With site clearance and lease agreements for Phase 1 concluded, accompanied by a total disbursement of $18 million, the project has navigated regulatory approvals, including environmental impact assessments.<\/p>\n Positioned as a strategic asset for Duc Giang Chemical Group, the Nghi Son complex is deemed instrumental in fortifying the company’s long-term growth trajectory.<\/p>\n An upward revision of investment for Phase 1 to $392.2 million underscores the project’s scale and ambition, with an eye on capturing 28% of the total soda production capacity of the country’s five largest factories, in addition to cornering significant shares in NaOH, PVC plastic, and other derivative markets.<\/p>\n Upon operational commencement, the complex is slated to churn out a diverse array of chemical products, meeting critical domestic demand across various sectors.<\/p>\n Emphasizing the strategic significance of the venture, Duc Giang Chemical Group foresees substantial revenue contributions, with projections indicating an annual revenue of $58.8 million at maximum capacity.<\/p>\n Furthermore, the project is poised to generate employment for 1,500 individuals and contribute significantly to Thanh Hoa province’s fiscal coffers, cementing its pivotal role in the region’s economic landscape.<\/p>\n Source: en.vneconomy.vn<\/em><\/p>\n <\/p>\n Connecting International Goods Supply Chains \u2013 VIET NAM INTERNATIONAL SOURCING EXPO 2024<\/p>\n Time:<\/b>\u00a006 \u2013 08\/06\/2024<\/p>\n Venue:\u00a0<\/b>SECC, 799 Nguyen Van Linh, District 7, Ho Chi Minh City, Vietnam.<\/p>\n Hotline:\u00a0<\/b>(+84) 24 3516 2063<\/p>\n Website:<\/strong>\u00a0vietnamsourcingexpo.vn<\/a><\/p>\n