A high-tech rare earth manufacturing and processing plant will be built in Viet Hung Industrial Park in Ha Long city.
On December 4, at the International Tourism Area of Tuan Chau, Global Rare Earth, an affiliate of Vietnam ’s Tuan Chau Group signed a joint venture partnership agreement with the Winglee Resources PTE Company of Singapore to fund this project.
The high-tech rare earth manufacturing and processing plant will sit on a 50,000 square metre site in Ha Long city’s Viet Hung industrial park.
It has a total cost of US$ 35.5 million, of which 51 percent of stake is contributed by Tuan Chau Group and the remaining by the Winglee Resources PTE Company of Singapore.
Construction is expected to finish in the next 8 months since the plant receives the government’s permission. As scheduled, the plan will have a production capacity of 1,000 - 3,000 tons per annum./.
Source: QNP
