Posco, VnSteel to Build US$620-M Steel Plant in Vietnam

The Vietnam Steel Corporation (VnSteel) and Posco Specialty Steel Ltd., Co. (Poscoss) will jointly build a steel plant at a cost of US$620 million in southern Ba Ria Vung Tau province, according to a deal inked between the two at the South Korea-Vietnam Business Forum May 29 in South Korea.

 

The plant to be located on 495,000 sq.m in Phu My 2 Industrial Park will have a designed capacity of one million tons per year.

 

Posco, the world's third largest steelmaker from South Korea, is set to start trial run of a rolled steel plant with capacity of 1.4 million ton per year in southern Ba Ria Vung Tau, the largest of its kind so far in Vietnam, said Posco Vietnam Ltd., Co.

 

Kicked of in August 2007, the US$1.12-billion plant is scheduled to turn out its first products of 40,000 tons of cold rolled steel this August, said the company.
P.V