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Thai Binh Trading Corp invests $23 million in Cuba

Released at: 14:57, 26/04/2015

Thai Binh Trading Corp invests $23 million in Cuba

The company will invest in Cuba when US embargo is lifted

by Luong Nhi

Thai Binh Trading Corporation would build two factories to manufacture washing powder and paper nappy in Cuba with the total investment capital of $23 million, according to CEO and Chairman of the corporation, Mr. Tran Thanh Tu.

Cuba was a potential market of Vietnamese enterprises, Mr. Tu said. Moreover, the Cuban believed to use Vietnamese products, he emphasized.

The two factories were planned to be at Mariel special economic zones which was 43 kilometers from Havana. The capacity of washing powder factory was 50,000 ton per year, supplying to Cuban market and exporting to countries in American continent.

Investment capital for the washing powder factory was $18 million from Thai Binh Trading Corp, Vico Limited Company and Suchel Company. The factory is expected to open in the second quarter of 2017 with 40,000 square meters.

Regarding nappy factory, it was invested $5 million by Thai Binh Trading Corp and Kywy Joint Stock Company, expected to produce from 120 million to 180 million products per year. It would be built in 10,000 square meters and operated in first quarter of 2017.

Besides the two projects, Thai Binh Trading Corp planned to build wood manufacturing factory for interior and exterior architecture in Havana, Vice Chairman of the Corp, Ms. Nguyen Thi Kim Thao said. On the other hand, the Corp had participated in the merge and acquisition market in Cuba, as well as the supplying chains in Cuba such as convenient shops, Ms. Thao said.

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