A 70-ha float glass plant with a capacity of 900-1,000 tonnes/day will be built in Chu Lai Open Economic Zone located in Tam Hiep district of central Quang Nam province.

The Vietnam Coal and Mineral Industries Group (VCMI), the Industry Development Joint-Stock Company and the Mining Chemicals Company Ltd. on Thursday signed an agreement on the establishment of Chu Lai Float Glass Joint-Stock Company.

Under the agreement, they will contribute to the company's capital with respective rates of 51 percent, 46 percent and 3 percent.

According to VCMI general director Doan Van Kiem, the company will conduct a feasibility study to define the total investment capital right after signing the agreement.

The construction of the plant is expected to start in the third quarter of this year with the first products rolling off the production line in 2008, he said.

The plant will exploit the sand mine on Thang Binh beach, and its products will be sold on both domestic and foreign markets.