The People’s Committee in Binh Phuoc, Vietnam, has decided to hand over 430,612m2 of land to ThaiGroup JSC for the construction of the Minh Tam cement plant.

ThaiGroup initiated the project in early-2017 by acquiring it from Mien Dong JSC, which was facing financial difficulties. The plant represents a total investment of VND12trn (US$515m) and is expected to eventually operate at a cement capacity of 4.5Mta. Construction is anticipated to be completed within two years.

Meanwhile, the first phase of the project is expected to produce 2.6Mta of cement at an investment of VND6.8trn.