Havana, Cuba.- The joint venture Suchel TBV S.A. will establish a plant for the production of detergents and other related products in the Mariel Special Development Zone (ZEDM), located in western Cuba.

The firm is made up of the Cuban Mercantile Society Industrias Nexus S.A. and the Vietnamese company Thai Binh Detergent Joint-Stock Company, and is authorized to operate on the Island for a period of 30 years starting from its registration in the Commercial Registry of the Republic of Cuba, in accordance with information disclosed on the website of the Zone today.

The plant will have an annual production capacity of 50,000 tons of detergents for domestic and industrial use, figures that will replace more than 90 percent of imports of this product in the Caribbean country, pointed out the note.

With an estimated initial investment amount of about 17 615 000 dollars, the factory will have modern technologies and automatic control systems, according to world standards. Adding that their processes will be friendly to the environment, by requiring low energy consumption and generate a minimum of industrial waste, it stresses.

After the creation of the joint venture, the execution of the investment process will start, which will last 24 months.

The government of Vietnam has expressed interest in encouraging investments in key sectors of the Cuban economy. In a visit to the Zone in 2016, President Tran Dai Quang ratified the purpose of increasing the presence of companies of his country in this strategic area, stressed the information disclosed.

The Mariel Special Development Zone, located at about 45 kilometers west of Havana, seeks to encourage national production, reduce import costs, boost growth, create jobs and facilitate foreign direct investment.