The Vietnam Rubber Industry Group (VRG), in which the government of Vietnam holds a controlling stake, has announced an investment into three new processing factories in the northern region of Vietnam to meet an expected increase in rubber demand.
One of VRG’s subsidiaries, Lai Chau Rubber Company II will invest into a latex processing line, with an initial capacity of 5,000 tons a year,. The first phase will be completed by 2022. By 2023, the second phase of the factory will start operations with a capacity of 4,000 tons per year, bringing its total capacity to 9,000 tons per year. By 2022, another subsidiary, the Dien Bien Rubber Company, will build a 3,000 tons a year latex processing factory.
VRG’s Dau Tieng-Lao Cai Rubber Company will invest into a latex processing factory with a capacity of 3,000 tons a year, to serve companies in the northeastern region. This is expected to be completed by 2025.
Currently, VRG has the Chau Thuan – Son La Rubber Processing Plant and the Lai Chau Rubber Processing Factory in the northern mountainous region, with annual capacity of 6,000 tons and 5,000 tons a year respectively.
(Sources: Vietnamnews; Vietnamplus)