Indian economic group invests in fertilizer plant in Nghe An.
(Baonghean.vn) - On the afternoon of September 10th, Mr. Ho Duc Phoc - Secretary of the Provincial Party Committee - held a working meeting with Mr. Mozam Daruwalla - General Director of Bohra Industries VietNam LTD - a large Indian economic group.
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| Comrade Ho Duc Phoc held a working meeting with the General Director of the Indian economic group - Bohra Industries VietNam LTD. |
During the meeting, Mr. Mozam Daruwalla presented the progress of the investment and construction of the fertilizer processing plant in Dong Hoi Industrial Park, Hoang Mai Town. To date, the administrative procedures for this project are basically complete and are awaiting review and approval from relevant ministries, agencies, and the Government. The investor hopes to receive assistance from Nghe An province in expediting land clearance and other administrative procedures during the construction of the plant, as well as in simultaneously building a port to serve production and export of goods.
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| Overview of the working session |
According to the project proposal, the fertilizer plant in Dong Hoi Industrial Park will receive an investment of approximately $24 million in phase 1, with a capacity of 250,000 tons of fertilizer per year. 70% of the plant's products will be exported to Southeast Asian countries and re-exported to the Indian market. In phase 2, the investor will increase the investment to $29 million and the capacity will exceed 450,000 tons per year.
Comrade Ho Duc Phoc affirmed that the provincial leadership and relevant departments and agencies always create favorable conditions for investors, including Bohra Industries VietNam LTD, to invest and build in Nghe An province. The important issue is that businesses and investors need to focus their capital to accelerate construction progress after receiving permits. This will bring economic benefits to the investors themselves and, together with Nghe An province, create jobs for workers and contribute to the local budget.
Nguyen Son
