New large-scale steel project licensed

VGP - A foreign-invested steel project, China Steel Sumikin Việt Nam, with the registered capital of nearly US $1.15 billion has been licensed in the southern province of Bà Rịa-Vũng Tàu.

May 26, 2009 11:00 AM GMT+7

Covering an area of 109 hectares in the industrial park of Mỹ Xuân A2, every year the plant can churn out 1.6 million tons of hot- and cold-rolled steel, magnetic steel plates, and steel rolls used in shipbuilding, machinery, automobile, motorbike, electricity and electronics industries.

This is a joint-venture between the China Steel Group from Taiwan, Sumitomo Metal Industries from Japan and some other foreign partners.

China Steel Sumikin Việt Nam is the second biggest steel project, only after the steel project invested by Posco in the industrial park Phú Mỹ 2.

By Ngọc Vâ