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May 1, 2008

Korean firm pours $28mn into new factory

Korean company Vina-Halla spent 450 billion VND ($27.9 million) to build a heavy industry factory in the Vietnamese oil-field province of Ba Ria-Vung Tau on April 29, Vietnam News Agency reported.

Vina-Halla CEO Shon Ho Yong said the factory has an annual capacity of producing 85,000 tonnes of industrial fans, 5,000 tonnes of pressure bottles and 10 units of heavy cranes all made of steel.

The project will also manufacture incinerators to deal with steel waste, steel facilities for environmental protection and liquid waste treatment and other machines and steel equipment for cement, energy and steel-rolling factories.

Its products will be largely exported to Asian countries, said the Korean company chief.

The factory, scheduled to become operational in the next four months, will provide jobs for 500 workers.

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