Malaysian Group Seeking to Build US$2.9 Bln Steel Complex in Central Vietnam
Vietnam&rsquos Vinashin Business Group and Maju Stabil Sdn Bhd Company under Malaysia&rsquos Lion Group are seeking the government&rsquos approval to build a US$2.9 billion steel complex in central Ninh Thuan province, the Dau Tu newspaper reported.
The steel complex have an annual capacity of 4.5 million tons in the first phase and its capacity will be raised to 10 million tons a year by 2025.
The project also includes two thermo-power plants with a capacity of 1,450 MW each and a port capable of handling 15 million tons of goods a year, along with other supportive works.
The first phase of the project is estimated to cost US$2,749 million, of which, the two companies will contribute US$780 million and the remainder from loans.
Vinashin plans to hold a 30 per cent stake in the project.
The government July 16 requested the Ministries of Industry and Trade, Transport, and Natural Resources and Environment to work on the project and then report to the government. (Investment)
Vietnamese
