Viglacera sets up construction material joint venture in Cuba
The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) and the Cuba Industrial Construction Group (Geicon) have contributed over 39.8 million USD in chartered capital to set up a joint venture to produce construction materials in Cuba.
Hanoi (VNA) – The Vietnam Glassand Ceramics for Construction Corporation (Viglacera) and the Cuba IndustrialConstruction Group (Geicon) have contributed over 39.8 million USD in charteredcapital to set up a joint venture to produce construction materials in Cuba.
Geicon is responsible for building plans toexploit and transport raw materials, ensuring both quality and quantity, to thetwo plants, as well as seeking to sell products at home – which are expected tomake up 70 percent of the total output, and finding export markets.
It will also complete all necessary documents toestablish the Prodimat commercial company that owns property and land userights of the two factories.
Meanwhile, Viglacera will designate or set up anew company to conclude the contract with Prodimat while upgrading twofactories producing ceramic tiles and sanitary ware.
The two sides will continue completing thefeasibility study and submit to Vietnamese and Cuban authorised agencies forapproval-VNA
Minister of Construction Pham Hong Ha urged Cuban leaders to facilitate the early establishment of a joint venture between the Viglacera and the Cuban Geicons Group.
The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) and Cuba’s Geicons Group are set to establish a joint venture producing ceramics sanitary wares and tiles in October.
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A production line of Viglacera (Photo: VNA)
