South Korea's Posco Could Pay US$50M for Vietnam's 90,000-ton Steel Plant
Posco Group of South Korea, the world’s largest steel maker, has said that it may pay US$50 million to take over a stainless steel plant that has an annual production capacity of 90,000 tons in Vietnam.
Posco said that its moves aim to meet the rising demand for steel in the Southeast Asian region, the agency said.
The agency did not name the Vietnamese steel plant.
The South Korean steel maker is building another steel-rolling factory in Vietnam that is expected to produce 1.2 million tons of steel a year once operational, it added.
Acquisition of one steel plant in Vietnam is part of Posco’s plan to build six more steel mills in Asia to raise the total number of steel joint ventures to 25 with a combined production capacity of 3.1 million each year. (VNA)
Vietnamese
