The Chinese copper fabricating company, Zhejiang Hailiang said it plans to go ahead with its copper fabrication project in Vietnam despite concerns over the economy there. No investment has yet been made by the company in Vietnam for the $7.2 million project, desgined to produce 71,000 tonnes per year of copper alloy pipe. The development of the plant, still awaiting approval from China’s Ministry of Commerce, follows the relocation of the company’s existing facility in Zhuji City. Last year Zhejiang Hailiang sold almost 128,000 tonnes of copper pipe and bar generating sales revenue of almost RMB 7 billion ($982 million).
As part of its strategy to broaden its international presence and develop its business units, the Emirates International Investment Company (EIIC) has announced ambitious plans to build six hi-tech factories in the UAE, Kingdom of Saudi Arabia (KSA), Algeria, Romania and Vietnam, at a value of Dhs1.8bn.
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