Swiss cement maker Holcim Vietnam will build a clean power plant that will use heat generated by machinery during production at its factory in the southern province of Kien Giang.
It will cost $18 million and Standard Chartered Bank Vietnam will provide the amount under a five-year loan deal the two have signed.
China’s Sinoma Energy Conservation Company will build the plant and supply $9 million worth machinery and equipment.
The power plant is expected to go on stream in August 2012.
The new technology will not only help reduce energy costs but also cut greenhouse gas emission from the factory.
The power plant is expected to produce 44 million KWh a year, enough to run the cement factory for 88 days.
Worldwide, cement manufacturing is estimated to account for 7-8 percent of CO2 emissions.
Source: Tuoi Tre