Indian and Vietnamese firms Friday signed an agreement to set up a joint venture to manufacture carbon black, a material used to make tires.
The country’s first carbon black project, to be developed by Philips Carbon Black and three local tire producers Casumina, Danang Rubber and Sao Vang Rubber, will cost US$65 million. The three companies, representing parent company Vietnam National Chemical Corporation (Vinachem), will contribute about 22 percent of the funding for the project. The carbon black factory, to be built in the southern Ba Ria-Vung Tau Province, will have a capacity of 110,000 tons. It’s expected to begin manufacturing carbon black next year. Half the factory’s output will be exported to |
