Incombank, Thep Viet to Invest US$200 Mln into Central Vietnam
The state-owned Industrial and Commercial Bank of Vietnam (Incombank) and Thep Viet joint stock company September 20 signed a contract to invest US$200 million to develop three industrial projects in the central Vietnam, state media reported Friday.
Incombank will lend Thep Viet US$140 million, said the bank news source. However, it did not mention the remaining investment.
The three projects are to raise Phu My port capacity to handle two million tons a year, to construct an ingot steel refinery producing 600,000 tons per year and a cold rolled steel mill of 600,000 tons a year.
All the three projects are located in the southern Ba Ria – Vung Tau province’s Phu My industrial park.
HCM City-based steel company August 8 put into operation an ingot steel mill with annual capacity of 500,000 tons. The plant is among four projects invested by Thep Viet with a combined capital of US$300 million.
Thep Viet is expected to construct two ingot steel mills using electrode technology with combined capacity of 1.1 million tons a year, a coke coal-fired 500,000-ton ingot steel mill and a rolled steel mill with annual capacity of 500,000 tons. (Youth)
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