Oji Holdings Corp has confirmed it is to build a new corrugated plant in northern province of Vinh Phuc, Vietnam. The investment is expected to be in the region of JPY 5 bn (approx €39m) and will come on stream in the summer of 2023.
The new plant will sit on a 63,000 sqm site and it is expected that it will produce around 85m sqm of corrugated board per year.
The company says that within the corrugated container business in Vietnam, Oji has set ‘expansion of overseas business’ as one of the major pillars to ensure continuing growth.
The group is operating five corrugated plants in Vietnam (three in North and two in South) and currently building its third plant in the South. Oji group will further expand business by establishing the new fourth plant in the North, where demand is strong. The new plant will be Oji group’s 36th corrugated plant in South East Asia, India and Oceania.
