Japan-Taiwan JV To Build US$1.14-B Steel Plant in South Vietnam

The Industrial Parks Management Board of southern Ba Ria Vung Tau province has granted a license to the Japan-Taiwan joint venture, China Steel Sumikin Vietnam, to build a US$1.148-billion steel project in the province.

 

The joint venture between Taiwan’s China Steel and Japan’s Sumitomo Metal Industries will develop the project on 109 ha of the My Xuan A2 Industrial Park, Tan Thanh district.

 

The plant will have an annual designed capacity of 1.6 million tons of steel products, including hot rolled steel, cold rolled steel and steel sheet, which will mainly be supplied for automakers, shipyards, and consumer electronics makers in Vietnam and other Southeast Asian nations.

 

This is the largest of its kind in Ba Ria Vung Tau so far, followed by Posco’s underway steel project worth US$1.12 billion with capacity of 1.2 million tons per year.

 

Once fully operated, the project will create jobs for 1,000 workers and contribute US$100 million to the provincial budget yearly. (Vietnam Economic Times, Vietnam & World Economy)