4:32:35 PM | 4/6/2008
The Anh Trang Co. Ltd., has started to build a cast iron refining and steel ingot-producing factory totaling VND4.23 trillion (US$264.69 million) in central Quang Binh province, the Thoi Bao Kinh Te newspaper reported.
The firm will invest VND1,035 billion in the first phase, which will turn out 250,000 tons a year and VND3.2 trillion in the second phase to double its annual capacity, the paper said.
The factory will use iron ores from mines in two central provinces of Quang Binh and Ha Tinh, or iron ores bought from foreign countries for its operation.
When operational, the facility will supply ingots for domestic steelmakers, helping reduce ingot import volume that now accounts for more than 70 per cent of Vietnam’s demand. (Vietnam Economic Times)
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