03:09 (GMT +7) - Wednesday 02/12/2020

Business

Jotun to build paint plant in HCMC

Released at: 16:46, 28/04/2018

Jotun to build paint plant in HCMC

Photo: Khanh Chi (VET)

Leading paint producer to build Vietnam's largest paint plant at Hiep Phuoc IP in Nha Be district.

by Hong Nhung

Jotun Paints (Vietnam), one of the world’s leading paints and coatings manufacturers, signed a land lease contract on April 26 with the Hiep Phuoc Industrial Park JSC to build its second paint plant in Vietnam.

The new site is on 10 ha at the Hiep Phuoc Industrial Park (IP) in Ho Chi Minh City’s Nha Be district, where it will construct a production plant for decorative paints and performance coatings (marine, protective and powder coatings). This is Jotun’s second plant in Vietnam and also uses modern technology, is a green project of note in the IP, and is ten-times larger than its first factory, in southern Binh Duong province.

The project will see production of 80 million liters of liquid paint and 10 million kilograms of powder coatings each year. Investment capital stands at around $70 million.

One of the main reasons Jotun chose the Hiep Phuoc IP is its strategic location. “With convenient transport infrastructure and an international port system, Hiep Phuoc is attractive in the eyes of many industrial investors, not just Jotun,” said Mr. Johnny Kolding, General Director of Jotun Paints (Vietnam).

Jotun decided to invest in the largest paint factory in Vietnam after just a year of survey and negotiation because of the potential and benefits of investing at the Hiep Phuoc IP.

The plant is designed and will be built following LEED certification criteria for green projects, which is also a priority Hiep Phuoc sets for its investors. The plant will be equipped with a solar energy system to minimize power consumption.

Jotun Paints is known for leading the way in the design, construction and operation of environmentally-friendly plants worldwide, including its projects in Vietnam. To ensure standards are met, projects must be implemented by well-known and experienced contractors.

“Jotun is a multinational corporation with a history of over 90 years and famous for paints and coatings products,” Mr. Nguyen Truong Bao Khanh, General Director of Hiep Phuoc IP,” told the signing ceremony. “The long-term strategic investment partnership between Jotun and Hiep Phuoc will create confidence among other investors about the IP when they are seeking industrial land for lease in Vietnam. The cooperation will also create favorable conditions for other businesses already at Hiep Phuoc to participate in supply chains and cooperate with Jotun. Hiep Phuoc will also attract existing Jotun suppliers.”

Hiep Phuoc IP is committed to completing a comprehensive infrastructure network and providing maximum support services and utilities so its tenants see stable and sustainable development. 

User comment (0)

Send comment