Indian economic group invests in fertilizer factory in Nghe An
(Baonghean.vn) - On the afternoon of September 10, Comrade Ho Duc Phoc - Provincial Party Secretary had a working session with Mr. Mozam Daruwalla - General Director of Bohra Industries VietNam LTD - a large economic group of India.
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| Comrade Ho Duc Phoc works with General Director of Indian Economic Group - Bohra Industries VietNam LTD |
At the meeting, Mr. Mozam Daruwalla presented the progress of the investment in the construction of a fertilizer processing plant in Dong Hoi Industrial Park - Hoang Mai Town. Up to now, the administrative procedures for this project have been basically completed and are awaiting approval from the Ministries, branches and the Government. The investor hopes that when constructing the plant, he will receive assistance from Nghe An province in quickly clearing the land and other administrative procedures to simultaneously build a wharf to serve the production and export of goods.
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| Overview of the working session |
According to the project, the fertilizer factory in Dong Hoi Industrial Park will be invested in phase 1 with about 24 million USD, with a capacity of 250 thousand tons of fertilizer/year. 70% of the factory's products will be exported to Southeast Asian countries and exported back to the Indian market. In phase 2, the investor will increase the investment to 29 million USD and the capacity will reach over 450 thousand tons/year.
Comrade Ho Duc Phoc affirmed that the provincial leaders and departments always create all conditions for investors, including Bohra Industries VietNam LTD, to invest in construction in Nghe An. The important issue is that businesses and investors need to focus on capital to speed up construction progress after being licensed. That will bring economic efficiency to the investors themselves and together with Nghe An province, create jobs for workers, contributing to the local budget.
Nguyen Son
