HANOI – Vietnamese plastics manufacturer An Phat Holdings yesterday, February 9, held a ground-breaking ceremony for its PBAT compostable resin plant in the northern port city of Haiphong, with a total investment of US$120 million.
This is the first green material factory in Southeast Asia and it is on the list of hi-tech projects given investment incentives. The plant is located in the Nam Dinh Vu Industrial Park in Haiphong. It will have a capacity of 30,000 tons per annum and will be completed after 24 months.
Once being put into operation, the factory will meet 100% of An Phat Holdings’ material need as well as meet the goal of export. With investment in modern technology and machinery, the facility’s operating efficiency is highly optimized with an average operating time of 8,400 hours, equivalent to 350 days per year. The factory is expected to create jobs for about 200 workers.
Addressing the event, Pham Anh Duong, chairman of An Phat Holdings, said the project is the best and most reasonable solution to An Phat Holdings’ problem of material source.
“An Phat Holdings will represent Vietnam in putting its name on the global map of green materials and become a pioneer in implementing Vietnam’s commitment to achieving zero emissions by 2050”, Duong added.
Currently, An Phat Holdings has received the transfer of factory design technology and process from Technip Zimmer, the world’s leading supplier of technology designs and solutions for large-scale and complicated industrial plants.
Through this project, An Phat Holdings will complete its green circular ecosystem, become the first Vietnamese firm to produce bio-degradable plastic materials and products, and officially participate in the world’s green material network. The prices of green products will fall by 20%-30% once the PBAT factory is operational.
An Phat Holdings has 16 subsidiaries, more than 5,000 employees in Vietnam and many countries around the world such as the U.S., South Korea, Singapore.