Taiwan-Japanese steel project licensed in Vietnam
Wed. June 10, 2009; Posted: 01:41 AM
BA RIA-VUNG TAU, Jun 10 Asia Pulse, 2009 (Asia In Focus via COMTEX) --
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PowerRating -- A joint
Taiwanese-Japanese venture was licensed on June 9, to build a
US$1.15 billion steel mill in the southern province of Ba
Ria-Vung Tau. Sitting on a 109 ha site in the My Xuan A2
Industrial Zone, the project is jointly funded by several
investors with the CHINA STEEL GROUP from Taiwan, SUMITOMO
METAL INDUSTRIES and the Sumitomo Corporation (TSE:8053), both
from Japan, being the major partners.
* Once operational in 2013, the steel mill will produce 1.6
million tonnes of products annually, including steel plate, hot
and cold-rolled steel, steel coils to service the ship-building
industry.
* It will also supply the mechanical engineering, automobile
and electricity/electronics industries and is expected to
employ around 1,000 local workers.
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