The Hanoitimes - International Finance Corporation (IFC) and Japan’s Sumitomo Forestry Co. Ltd. are co-investing in a particleboard-processing plant in Vietnam, IFC said.
The plant, owned and operated by Vina Eco Board Co. Ltd., a joint venture between Sumitomo Forestry Company and Sumitomo Forestry (Singapore) Limited, is located in the Mekong Delta province of Long An.
IFC contributed US$9 million in equity investment in the plant, which is expected to benefit about 700 farmers along the wood supply chain. With an annual design capacity of 250,000 cubic meters, the plant will be able to produce high-quality particleboard that meets the specifications of furniture processors.
The project also includes the construction of an 11-megawatt biomass-based power plant to supply its energy needs, thus reducing greenhouse-gas emissions.
Simon Andrews, IFC’s Regional Manager for
