May 11, on the occasion of the 59th anniversary of Hai Phong's liberation (May 13, 1955), Hai Phong City People's Committee and Ecovance Vietnam Co., Ltd. held a groundbreaking ceremony for the high-tech biodegradable materials factory project in Dinh Vu Industrial Park (belonging to Dinh Vu - Cat Hai Economic Zone). Deputy Prime Minister Tran Luu Quang and Korean Ambassador Extraordinary and Plenipotentiary of Vietnam attended to press the project start button.

The Ecovance high-tech biodegradable materials factory project is invested by Korean investor Ecovance Vietnam Co., Ltd. with a total investment of nearly 2,400 billion VND (equivalent to 100 million USD). The project's goal is to produce biodegradable plastic materials and products and related materials in the production of biological materials.

It is expected that, after going into operation, each year the high-tech biodegradable materials factory will produce 70,000 tons of PBAT biodegradable plastic products, 59,500 tons of PBS biodegradable plastic products, 6,300 tons of THF solvent products (byproduct created during PBAT production).

Ecovance high-tech biodegradable materials factory is the first project invested by SK Group (Korea) in Vietnam. This is an investor specializing in the production of secondary batteries, semiconductor materials, and environmentally friendly materials, accounting for a high market share worldwide in the field of manufacturing and trading products made from biodegradable plastic materials.

Illustration of Ecovance high-tech biodegradable materials factory

Vice Chairman of Hai Phong City People's Committee requires relevant agencies and units to coordinate and create the best conditions for investors and construction contractors, ensuring safety during the construction process.

The Ecovance high-tech biodegradable materials factory project is expected to be completed in June 2025, and after trial operation, it will officially operate from September 2025.