Quang Tri approves investment in wood processing factory project worth nearly 300 billion VND
On May 9, the People's Committee of Quang Tri province issued a decision approving the investment policy and approving the investor of the VBE Quang Tri Planted Wood Processing Factory project of VBE Quang Tri Joint Stock Company.
The VBE Quang Tri Plantation Wood Processing Factory Project aims to produce wood pellets, other wood products, products from bamboo, straw and durable materials.
The project's design capacity is to produce wood pellets with a capacity of 20,000 tons/year. The project has an expected land area of 30,856 m2, of which the administrative area is 770 m2, the production area is 16,380 m2 and the technical infrastructure and greenery are 13,706 m2.
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The project has a total investment capital of 292,632 billion VND. Of which, the investor's capital contribution is 58.2 billion VND.
The project is implemented at Lot CN44, CN45 and CN 47 - Cam Tuyen Industrial Cluster, Cam Tuyen Commune, Cam Lo District, Quang Tri Province.
The project's operating period is 50 years from the date of investment approval. The project is expected to be implemented for construction and equipment installation between June 2025 and June 2026; completed and put into operation in July 2026.
According to the People's Committee of Quang Tri province, because the project belongs to a special investment incentive sector and is implemented in an area with difficult socio-economic conditions, it will be entitled to incentives in terms of exemption or reduction of land rent, land use fees, land use tax; as well as incentives in terms of corporate income tax, import tax, etc.
According to the People's Committee of Quang Tri province, to implement this project, VBE Quang Tri Joint Stock Company must advance funds for the People's Committee of Cam Lo district to carry out compensation and support for site clearance, land acquisition, and land allocation for the construction of industrial cluster infrastructure. At the same time, the enterprise must have a plan to ensure environmental issues during its operations...
It is known that VBE Quang Tri Joint Stock Company is located at Quarter 2, Cam Lo Town, Cam Lo District, Quang Tri. The enterprise was granted the first business registration certificate by the Department of Planning and Investment of Quang Tri on July 22, 2022. The enterprise is legally represented by Mr. Bui Dinh Thong (born in 1979), residing in Trung Hoa Ward, Cau Giay District, Hanoi.
According to the Quang Tri Department of Finance, the financial report of VBE Quang Tri Joint Stock Company at the end of December 31, 2023 had equity of 60 billion VND. Including cash and equivalents of 4.9 billion VND, short-term receivables of 55 billion VND. The enterprise has no debt payable.
In addition, VBE Quang Tri Joint Stock Company provided a bank confirmation letter confirming that as of March 15, 2024, the enterprise had a deposit balance at the bank of VND 59.5 billion - ensuring the capital contribution according to the project proposal. At the same time, the Bank for Agriculture and Rural Development of Vietnam - Gia Lam Branch (Hanoi) also issued a letter of credit guarantee dated August 9, 2022 agreeing to commit to providing credit to VBE Quang Tri Joint Stock Company with a maximum loan amount of VND 239.561 billion to implement the project when the project is approved and fully meets the loan conditions according to relevant regulations.
Source: https://baodautu.vn/quang-tri-chap-thuan-dau-tu-du-an-nha-may-che-bien-go-gan-300-ty-dong-d214775.html
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