South Korea's Taekwang Industrial Co. has started the construction of a 60-million-dollar plant capable of producing 360,000 tons of fertilizer annually in Vietnam.
A groundbreaking ceremony was held Wednesday in an industrial park in Ho Chi Minh City, said Taekwang Industrial, the manufacture of petrochemical products, fibers and textiles. This will be the first South Korean fertilizer plant in Vietnam. Commercial production will begin in September next year.
Taekwang and its unit Huchems Fine Chemical have set up a joint venture called Korea-Vietnam Fertilizer for their fertilizer business in Vietnam.Taekwang controls sales and marketing while Huchems is responsible for operation and management of the plant.
Aju News Lim Chang-won = cwlim34@ajunews.com