Rengo Co Ltd has confirmed that Vina Kraft Paper Co Ltd, its joint venture in Vietnam, has decided to construct a new containerboard mill.
The total annual demand for containerboard in Vietnam is approximately 3 million tons (2019), and it is expected to grow at an annual rate of 6-7% due to continuing foreign direct investment, mainly in the export industry, and rising domestic consumption.
With the newly constructed mill, Vina Kraft Paper will establish its position as a market leader in the Vietnam containerboard market, and aims for sustainable development and growth. Furthermore, it will also strengthen Vietnam’s domestic integrated production system of containerboard to corrugated box.
As ‘General Packaging Industry (GPI) Rengo’, overseas operations are considered as one of the group’s core businesses and they said that they see Southeast Asia as an important strategic location. Rengo Group will reinforce its global business expansion and will work to further enhance its presence in the rapidly developing market of Vietnam.
