Expansion Work Starts on US$242.5 Mln Steel Ingot Mill in Northern Vietnam
Thai Nguyen Iron & Steel Co Ltd (Tisco) is planning to increase its steel ingot plant’s annual output to 750,000 tons at a total cost of US$242.5 million September 29 in northern province of Thai Nguyen, a senior official of the company confirmed.
Tran Trong Mung, Tisco’s general director said the plan is part of the country’s steel development program in the 2007-2015 period.
Once in place, the facilty will help meet the country’s increasing demand for ingot steel, Mung noted.
Vietnam steel makers currently are heavily reliant on imported ingot steel, mainly from China.
Meanwhile, the country is forecast to need 10 million tons of steel annually by 2010, 15 million by 2015 and 20 million by 2020. (Vietnam Voice)
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