Vnsteel, Danieli to Build Hot Rolled Steel Plant in Vietnam
The state-owned Vietnam Steel Corporation (VnSteel) and Danieli Group from Italy will set up a $550 million joint venture to build a hot rolled steel plant in southern Vietnam.
The two companies inked a cooperation deal on Dec. 10 on the occasion of Vietnamese President Nguyen Minh Triet’s four-day visit to Italy ended Dec. 12, Vnsteel said.
Vnsteel will contribute 80% of the project’s investment and the rest will come from Danieli.
The plant, which will be built in the southern province of Ba Ria Vung Tau with an annual capacity of two million tons, is scheduled for operation in late 2011.
The facility is expected to party feed Vietnam’s current demand for the product at eight million tons per year. (Vnsteel)
Vietnamese
