Posco to Build US$620M Steel Plant in Vietnam
South Korea’s largest steelmaker POSCO will build a steel plant at a cost of US$620 million in Vietnam’s southern province of Ba Ria Vung Tau, the second of its kind in the province.
Posco SS-Vina, an affiliate of Posco, received an investment license to build the steel plant which has a designed capacity of one million tons a year on May 18. The plant will be located in the Phu My II Industrial Park, Tan Thanh district.
Last October, Posco operated a cold rolled steel plant worth US$419 million in Ba Ria Vung Tau with an annual designed capacity of 1.2 million tons, comprising 700,000 tons of cold rolled steel and 500,000 ton of cold rolled steel sheet. (Youth)
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