14 JUNE 2011http://vietnamnews.vnagency.com.vn
Thai beverage firm to build VN plant
Edited by : AL CIRCLE
1 min read
Thai Beverage Can Ltd yesterday officially signed a US$60 joint venture agreement with America's Ball Corporation to build a $60 million aluminium can plant in Viet Nam's southern province of Binh Duong.
The project, slated for operation in mid 2012, will cover an area of 80,000 square metres in the Viet Nam-Singapore No 2 Industrial Park, with an annual production capacity of 850 million beverage cans.
"This project is a milestone for us to approach the regional market, of which Viet Nam is a very important and emerging one," said Ball Corporation's president and chief executive officer John Hayes.
He also said that the growing numbers of middle class and young to working age population in Viet Nam had made it a very attractive country for investment.
"We expect that Viet Nam's demand for aluminium cans will grow 15 per cent annually for the next few years," Hayes said.
This is the first time the Ball Corporation has set up business in Viet Nam. The corporation aims to sell 80 per cent of its products to domestic beverage companies while the rest will be aimed at Laos and Cambodia.
The project, slated for operation in mid 2012, will cover an area of 80,000 square metres in the Viet Nam-Singapore No 2 Industrial Park, with an annual production capacity of 850 million beverage cans.
"This project is a milestone for us to approach the regional market, of which Viet Nam is a very important and emerging one," said Ball Corporation's president and chief executive officer John Hayes.
He also said that the growing numbers of middle class and young to working age population in Viet Nam had made it a very attractive country for investment.
"We expect that Viet Nam's demand for aluminium cans will grow 15 per cent annually for the next few years," Hayes said.
This is the first time the Ball Corporation has set up business in Viet Nam. The corporation aims to sell 80 per cent of its products to domestic beverage companies while the rest will be aimed at Laos and Cambodia.
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