The Hoa Binh People’s Committee signed a memorandum of understanding on investment cooperation worth 378 million euro with the BGT Slovensko group from Slovakia on May 24.

Accordingly, BGT will build infrastructure in the Lac Thinh Industrial Zone in Yen Thuy district, Hoa Binh province and carry out five projects within the zone. These include plants to manufacture thermo-electric furnaces and insulation materials, and solar batteries, process milk and dairy products, and produce beer.

 The project worth 378 million euro will be divided into three phases which will start in May. In the first phase, BGT will build a plant to manufacture thermo electric power furnaces and a brewery. They are expected to start operating in early 2014 and generate more than 1,000 jobs for local people.

(VOV)