144MW energy plant signed between Kim Tin Group and Vyncke NV

December 06, 2021 | 11:43

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Belgian Vyncke NV and domestic Kim Tin Group on December 2 signed a cooperation agreement to develop energy plants with a total of 144MW at its two medium-density fireboard (MDF) manufacturing factories in southern Vietnam.

144MW energy plant signed between Kim Tin Group and Vyncke NV

Each energy plant has a capacity of 72MW, will be leased right after its completion, and will be installed attic on two Kim Tin MDF Chon Thanh and Kim Tin MDF Dong Nai factories

Vyncke NV, headquartered in Belgium will supply equipment and technical solutions to ensure quality and progress at Kim Tin Group's energy plants for two MDF factories with a total capacity of 144MW.

Vyncke NV is the world's leading energy manufacturing group established in 1912, providing thermal and energy solutions for industrial plants in the world.

According to Kim Tin Group, each rooftop solar power system will have a capacity of 72MW and would be leased right after completion. They will be installed on the roofs of Kim Tin MDF Chon Thanh and Kim Tin MDF Dong Nai factories.

These two factories have a total capacity of 1 million cubic metres of MDF a year and are located on a total area of more than 650,000 square metres, including factory and warehouse for rent, and dormitory, with a total investment of up to $350 million.

Kim Tin MDF Chon Thanh started construction in Becamex Industrial Park in Binh Phuoc province last October. Kim Tin Dau Giay factory is constructed in Dong Nai province.

Kim Tin Group will launch the warehouse system of these two projects for leasein the second quarter of 2022. The first products of Kim Tin MDF Chon Thanh factory will be turned out in the second quarter of 2023 while the first product from Dong Nai Kim Tin factory is expected in Q1/2024.

According to the plan, in 2023, Kim Tin Group will invest in another MDF factory in the central region and another one in the north with a capacity of 400,000cu.m each.

The group targets to reach a total capacity of more than 2.3 million cu.m by 2025, occupying 45 per cent of the domestic market share.

By Bich Ngoc

Kim Tin Group

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