Hanacans JSC, a Vietnamese subsidiary of Showa Denko, said the firm will build its third factory in the southern province of Ba Ria - Vung Tau, which is expected to become operational in July 2020.

The firm said with this factory, Showa Denko’s production capacity in Vietnam will increase 72 percent to 3.1 billion cans per year.

The company also planned to install a production line with a capacity of 1.1 billion cans per year at a factory in the northern province of Bac Ninh.

According to Spokesperson of Showa Denko Junji Kodama, the factory in Ba Ria- Vung Tau will mainly produce cans for beer and soft drinks.

Hanacans currently has two factories in Bac Ninh province and the central province in Quang Nam. The firm’s statistics show that the total annual output of the two factories is 1.8 billion cans.

The demand for aluminum cans in Vietnam is estimated at 10 billion cans in 2018 and is expected to increase by 10 percent annually.

Showa Denko aims to place more overseas production factories and improve the profitability of its domestic business operations in line with the firm’s mid-term management plan until 2021.-VNA