The project, which covers an area of 56.8 hectares and costs 900 billion VND (nearly 36.4 million USD), has an annual output of 350,000 tonnes, said Xuan Thien General Director Nguyen Huy Hoang.
The precast concrete factory is the first in a series of three projects invested by Xuan Thien in Nam Dinh Province, worth a total of 98.9 trillion VND (4 billion USD) and is expected to provide a boost to the province’s economic growth.
Once completed, the project will create a new development space, strengthen connectivity between coastal economic zones and facilitate the region’s investment, industry, tourism, services and urban development.
The precast concrete factory is expected to begin operation in the first quarter of 2023, providing concrete structures to build the Xuan Thien steel complex, a deep-water port, the Day River port and other sub-projects.
The factory will also supply products for the domestic and foreign markets, and create jobs for about 500 residents and many other job opportunities from associated services.
Speaking at the ground-breaking ceremony, Nam Dinh Vice Chairman Tran Anh Dung asked Xuan Thien Group to ensure the quality and progress of the project, and actively work with the relevant agencies to soon start work on other projects within the steel complex.
