Vietnam Time

11/30/2018 10:05:41 AM

Viglacera starts construction of first IP at Cuban special economic zone

According to the Vietnam News, ViMariel S. A. – a subsidiary of Vietnam Glass and Ceramics for Construction Corporation (Viglacera) on November 28 kick started the construction of the first industrial park in Mariel Special Economic Development Zone (ZEDM) (Cuba).

ViMariel S. A. was established by Viglacera in February 2018. The firm has obtained rights to build an industrial park with complete road, telecommunications, water supply and electricity infrastructure on an area of 156 hectares in the ZEDM.

Minister of Construction Pham Hong Ha speaks at the groundbreaking ceremony of the first industrial park in Mariel Special Economic Development Zone (ZEDM) in Cuba.

The project is a result of General Secretary of the Communist Party of Vietnam Nguyen Phu Trong’s State visit to Cuba in March, and is the first fixed-term operation and maintenance project Cuba has granted to a fully foreign-owned company in the ZEDM.

The construction of the industrial park is estimated to cost USD 300 million and be completed in five years.
Vice President of the Cuban Councils of State and Ministers, Ramiro Valdes Menendez, Cuban Minister of Foreign Trade and Investment, Rodrigo Malmierca Diaz, Vietnam’s Minister of Construction Pham Hong Ha and Ambassador to Cuba Nguyen Thanh Trung attended the ceremony.

Minister of Construction Pham Hong Ha speaks at the groundbreaking ceremony of the first industrial park in Mariel Special Economic Development Zone (ZEDM) in Cuba.

Speaking at the event, Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz spoke highly of the project, noting the inauguration of construction coincided with the 36th meeting of the Vietnam-Cuba Inter-Governmental Committee taking place in Havana from November 26 – 30.

He also expressed his confidence in the success of the “strategic” project which was described as “special” in the two countries’ relations.

Minister of Construction Pham Hong Ha, for his part, said long-standing ties between Vietnam and Cuba have laid a strong foundation for Viglacera to carry out this project. He expected the project would meet the needs for development of both nations.

Earlier, in an interview with Havana-based Vietnam News Agency’s correspondents in July, Cuban General Director of ZEDM’s management office Ana Teresa Igarza appreciated Vietnam’s experience in developing industrial park infrastructure, stressing that Cuba hopes ViMariel S.A will help attract foreign investors to the ZEDM - an important resource in the context that Cuba is changing its economic structure.

In 2016, Viglacera entered into a joint venture partnership with Cuban developer Geicon to manufacture building materials in Cuba, of which, Viglacera is responsible for upgrading two existing ceramics and sanitary ware plants and investing in two more, four years after the joint venture is operational./.

  ( VNF )
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