Attending the ceremony were Mr. Dinh Quoc Thai, Vice Chairman of the provincial People’s Committee; Mr. Nguyen Minh Hong, deputy Ministers of Post and Telecommunications; and other representatives. The joint venture has legal capital of US$28 million, 51 per cent of which has been invested by the Taihan Electric Wire Company of the Republic of Korea and 49 per cent by the Saigon Cable and Telecommunication Material’s Company (Sacom).
The project with total invested capital of nearly US$ 40 million was licensed on December 2005 by Dong Nai Industrial Zone authority. Initially, it will need a labor force of about 600 workers. It is scheduled to give out its telecom cables on July 2006 and by the end of 2006 the production lines with the capacity of 8,000 tons electric cables will officially put into use. In its second years, it will install production lines to manufacture vessel cables and magnetic cables. Its revenue in this year is expected to reach 25 million USD and increase by 100 million USD by the year of 2010.
Addressing at the ceremony, Mr. Dinh Quoc Thai emphasized that the provincial authorities paid great attention to this project. Therefore, the provincial authorities will create favorable conditions for the joint venture to do this business.
(Source Dong Nai Radio and Television Station)
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