Covering a total of nearly 26 hectares in Thinh Hung commune, Yen Binh district and Bao Hung commune, Tran Yen district, the project has a total investment of VND2,240 billion (US$96.84 million).
The factory will be installed with the latest fuel-saving and environmentally friendly technologies in order to produce products of high quality.
The first phase of the project is expected to be completed in the fourth quarter of 2021 and the second phase is scheduled for completion by 2024, providing paving stones and white limestone powder for the domestic market and export.
Once it is operating, the factory is envisioned to earn an annual revenue of VND2 trillion, contribute VND80 billion to the State budget every year, and create jobs for around 500 local employees.
According to the Chairman of Yen Bai provincial People’s Committee Do Duc Duy, the operation of the project will contribute to improving the locales’ income, and increasing the industrial production value and export value of the province, thereby boosting the locality’s socio-economic development.
It also reflects the provincial authorities’ effort to reform administrative procedures, improve the business environment, and facilitate all economic sectors, particularly the private sector.