The plant, worth 500 million USD, is the largest foreign investment project in Binh Phuoc so far.
The project covers 43ha at Minh Hung SIKICO Industrial Park in Dong No Commune, Hon Quan District, Binh Phuoc Province. Construction of the plant is scheduled to begin in the first quarter of 2024 and is anticipated to be complete in the third quarter of 2025.
The plant is expected to produce an annual output worth 770 million USD and generate jobs for about 1,600 locals and 200 foreign workers.
The plant is estimated to consume over 120,400 tonnes of rubber per year, including 80% from Vietnam and 20% from China. The project is expected to boost revenue for the rubber industry of Binh Phuoc Province, as Binh Phuoc has the largest rubber area in Vietnam, with over 240,000 ha.
Binh Phuoc attracted 26 FDI projects in the first eight months of 2023, with a total registered capital of over 710 million USD, 2.37 times higher than the yearly target, ranking in the top 10 provinces, with the most significant FDI capital in the first half of 2023.
