The firm will set aside VND1.03 trillion to turn a four-hectare land site into a plant producing and processing zircon ore to produce metasilicate and zirconium compounds.
Zirconium is a material needed for the production of refractory products and materials for the nuclear power industry. Besides, it is used to produce components for devices like cellphones, TV sets, aircraft shells and brakes for racing cars.
According to VRec, in the first phase the plant will produce zirconium oxychloride and sodium metasilicate with respective capacities of 13,300 tons and 8,500 tons per year.
The plant is scheduled for operation after 12 months of construction.
VRec is one of the first foreign investors that invest in Cai Mep Industrial Park in the rare earth sector. Having convenient road and sea transport and being near Binh Thuan, a province with rare earth potential, are the reasons why the Japanese investor has chosen Cai Mep Industrial Park.