Asian Joint Venture

A US$32m glass container plant is to be built on a greenfield site in Vietnam, following an agreement by the International Finance Corporation, part of the World Bank, to loan US$14.5m to a joint venture, San Miguel Haiphong Glass Co (SMHG). The partners in the venture are San Miguel Holdings and San Miguel Glass Vietnam, both owned by the Philippines-based San Miguel Corp, together with Haiphong Glass Factory, a Vietnamese government entity.