Vietnam Economics News- A cooperation contract on the construction of a manufacturing facility for a plywood made from recycled composite materials was signed between Vietnam’s Minh Hung Group and the US’s GFSI- MHE Manufacturing of Texas LLC at a ceremony in Ho Chi Minh City on February 26.
Accordingly, before construction begins, the GFSI-MHE Manufacturing of Texas LLC will transfer the entire technology for producing products from recycled composites and fiberglass to the Vietnamese side.
By recycling a large volume of waste, from old composites and fiberglass, this solution will help to create many new environmentally friendly materials of high economic efficiency.
Following the technology transfer, the two companies will work together on building a US$50 million Ecopolycrete (ECP) plywood manufacturing plant using recycled composite materials, which is due for completion and operability in 2019.
The plant will be located in the Mekong Delta province of Tien Giang, a prime location to serve the immediate mission of recycling used composite hulls into ECP plywood.
At present, Minh Hung Group and its US partner are trying to complete all of the procedures concerning the investment license and proving compliance with Vietnam’s environmental regulations, in order to kick-start the construction of the plant as soon as possible.