The Viet Nam Development Bank branch in southern Ninh Thuan Province and Ha Long Ltd Company on Thursday signed a credit contract to build a plant processing high-quality salt.
The 40ha plant with a total investment of VND350 billion (US$16.6 million) will be built in an industrial park that processes salt, including iodized salt, in the province's Thuan Nam District. When complete, the plant will have an annual capacity of 200,000 tonnes.
The raw material for the project will be sourced from the 2,000ha Quan The salt field in Phuoc Minh Commune that has an output of 300,000-340,000 tonnes per year.
Provincial authorities have pledged to find solutions for problems relating to production and consumption, and to support enterprises in building trademarks for local salt products in order to ensure sustainable development of salt production.
The province has asked the Viet Nam Development Bank branch in the province to offer loans with preferential interest rates to businesses that have quality projects in accordance with the law to promote the province's socio-economic development.