S Korean firm wants to invest $4.5b in steel production in Vietnam
Wednesday, 15 August 2007
HANOI, Aug 14 (Xinhua): POSCO, the world's third- largest steel maker from South Korea, is considering to invest 4.5 billion US dollars in building a hot-rolled steel mill in Vietnam, local newspaper Vietnam News reported today.
The future plant, expected to be located in Van Phong Bay in the central coastal province of Khanh Hoa and adjacent to a key seaport, will have an annual production capacity of 4 million tons in the first phase and eight million tons in the second one.
POSCO has planned to cooperate with Vietnam's largest ship builder, the Vietnam Shipbuilding Industry Group to build the mill, in which the Vietnamese side holds 30 per cent of stakes.
Earlier this month, POSCO started to construct a 1.1-billion dollar cold-rolled steel plant, scheduled to begin production in 2009 in Vietnam's southern Ba Ria Vung Tau province.
The future plant, expected to be located in Van Phong Bay in the central coastal province of Khanh Hoa and adjacent to a key seaport, will have an annual production capacity of 4 million tons in the first phase and eight million tons in the second one.
POSCO has planned to cooperate with Vietnam's largest ship builder, the Vietnam Shipbuilding Industry Group to build the mill, in which the Vietnamese side holds 30 per cent of stakes.
Earlier this month, POSCO started to construct a 1.1-billion dollar cold-rolled steel plant, scheduled to begin production in 2009 in Vietnam's southern Ba Ria Vung Tau province.