Malaysian firm starts building Vietnam's biggest steel plant
Tuesday, 25 November 2008
HANOI, Nov 24 (AFP): Malaysia's Lion Industries and Vietnamese shipbuilder Vinashin have started building the country's biggest steel plant, set to cost 9.8 billion dollars, state-run Vinashin said today.
The complex will be located on 1,650 hectares (4,000 acres) in central Ninh Thuan province, about 300 kilometres (180 miles) northeast of the business capital Ho Chi Minh City, Vinashin said in a statement.
Once operational in 2011, the complex is set to produce 4.5 million tons of steel a year. At full capacity from 2025, it is scheduled to produce 14.4 million tons, the statement said.
Lion Industries owns a 74 per cent stake in the project while Vinashin holds the remainder, Vinashin said in the statement.
The complex will be located on 1,650 hectares (4,000 acres) in central Ninh Thuan province, about 300 kilometres (180 miles) northeast of the business capital Ho Chi Minh City, Vinashin said in a statement.
Once operational in 2011, the complex is set to produce 4.5 million tons of steel a year. At full capacity from 2025, it is scheduled to produce 14.4 million tons, the statement said.
Lion Industries owns a 74 per cent stake in the project while Vinashin holds the remainder, Vinashin said in the statement.