RoK steel giant eyes mammoth local project
Ha Noi (VNA) – Posco, the world’s third-largest steel maker, is considering developing the most extensive steel project in Viet Nam using investment capital amounting to 4.5 billion USD, the Ministry of Planning and Investment revealed.An agreement signed between Posco and the Viet Nam Shipbuilding Industry Group (Vinashin) in a Republic of Korea – Viet Nam investment forum in Seoul this May prompted the project. Located in Van Phong Bay in the south central coastal province of Khanh Hoa and adjacent to Viet Nam’s key transhipment port project, the hot-rolled steel mill marks increasing investment in Viet Nam by the Republic of Korea.
The plant will have an initial annual production capacity of 4 million tonnes and will reach its full output of 8 million in the second phase, the ministry said.
Once approved, the RoK steel giant will complete the feasibility plan within this year and begin construction in 2009, reaching completion in 2010.
In order to secure the project, Posco will form a venture with Viet Nam’s largest shipbuilder, Vinashin, in which Vinashin will hold a 30 percent stake in the mill, according to the ministry.
Earlier this month Posco started constructing a 1.13 billion USD cold-rolled steel plant, scheduled to begin production in 2009 in the southern coastal oil-rich province of
Ba Ria-Vung Tau.
The group is also building a 13.8 million USD steel processing facility in nearby Dong Nai province.-Enditem
được đăng bởi kude.punny @ 09:23
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