Vietnam’s Phuong Nam pulp mill still in limbo
COLOGNE, Germany, Oct. 27, 2017 (PPI Asia) -Parent company Vinapaco is reportedly to be held accountable for the debts incurred by the Phuong Nam pulp mill, after years of irregular or suspended operations.
Problems with the mill were apparent from the beginning, with the startup of the 100,000 tonne/yr bleached nonwood pulp plant pushed back from 2009 to 2012, and its ownership shifting from Tracodi to Vinapaco.
Two years later, it was reportedly ordered to stop operations consequent to disputes with furnish suppliers and to machinery breakdowns.
Its debts are put at VND2.65 trillion ($117 million).
Local media has reported the facility and its ...