EU-Based PEB to Install US$17 Mln Pre-engineered Steel Facilities in Vietnam

Europe-based PEB Steel Corp. Sept 18 signed a US$17 million contract to build pre-engineered steel facilities for South Korea’s Heavy Industrial Complex Project of Doosan Group in Vietnam’s central Dung Quat economic zone, state media reported on September 19.

 

The deal is part of a project to develop a 118-hectare complex which is designed to produce chemical processing equipment, cranes, evaporators, robots, turbines, and power generators, stressed Hyun Sung Woon, a senior official of the group. All the finished products will be for exports, he noted.

 

Doosan-Vina, consisting of US$260 million, was co-invested by two giant heavy industrial producers of South Korea, namely the Doosan Heavy Industries and Construction Company and the Doosan Mecatec Company.

 

The first division, Doosan Vina, was kicked off in February 7, 2007 and scheduled for operation in late 2008, has a total investment of US$200 million, Hyun Sung Woon affirmed. He did not mention any information of the second division Doosan Mecatec.

 

Dung Quat EZ is home to large projects including the over US$1 billion steel complex by Taiwan’s Tycoons Group, the US$2.5-billion oil refinery by the Vietnam Oil and Gas Corporation (PetroVietnam), and the US$750-million Dung Quat Shipyard by the Vietnam Shipbuilding Industry Corp. (Vietnam Economic Times)