Work on the PBAT compostable resin plant, with a total investment of US$120 million, kicked off in the Nam Dinh Vu Industrial Park, the port city of Hai Phong.
|Delegates attending the ceremony press the ground-breaking button on February 9. Photo: An Phat Holdings|
With an output of 30,000 tons annually, the plant, among the priority high-tech investment projects, is expected to be completed in 24 months.
Once being put into operation, the factory will meet 100% of the material needs of An Phat Holdings, the Vietnamese plastics manufacturer, and the export goal.
With the investment in modern technology and machinery, the factory’s operating efficiency is highly optimized with an average operating time of 8,400 hours, equivalent to 350 days per year. The factory is expected to create jobs for about 200 highly-qualified workers.
At the ceremony, Le Anh Quan, Standing Vice Chairman of Hai Phong City People’s Committee highlighted Hai Phong’s accomplishments in socio-economic development. He also highly appreciated the role of the PBAT plant, saying it would contribute to the economic development of the city, especially to promoting zero-emission production with no greenhouse effect.
Through this project, the Vietnamese group will complete the green circular ecosystem, becoming the first Vietnamese enterprise to produce bio-degradable plastic materials/products, officially participating in the world green material network. The price of green products will decrease by 20%-30% when the PBAT factory is operational.
Pham Anh Duong, Chairman of An Phat Holdings said the project is the best and most reasonable solution to An Phat Holdings’ material source, making it self-sufficient in raw material, lowering the price of products and advancing towards the replacement of traditional plastic products.
“An Phat Holdings will represent Vietnam on the global map of green materials and become a pioneer in implementing Vietnam’s commitment to achieving net-zero emissions by 2050,” Duong said.