Malaysian Group to Develop US$9.8-Bln Steel Complex in Central Vietnam
A Malaysia-Vietnam joint venture is expected to set up a steel complex worth US$9.8 billion in central Ninh Thuan province’s Ninh Phuoc district.
The Malaysian Lion Group will hold a majority stake of 70 per cent in the venture and the Vietnam Shipbuilding Industry Group (Vinashin) the remainder of 30 per cent.
The Ca Na Steel Complex, set to cover 1,650 hectares, will have a designed capacity of 10 million tons a year.
The project belongs to the list of investment projects with conditions and is absent in the list of the Vietnamese steel industry’s main investment projects in the period of 2007-2025.
According to the Ministry of Construction (MoC), Ninh Thuan province is suffering from socio-economic special difficulties so the ministry supports the policy to develop this project.
The MoC said the project is of national-level importance, thus, it has asked the investor to make an investment report to submit to the Government and the National Assembly for approval. (Vietnam & World Economy)
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