THE SOCIALIST REPUBLIC OF VIET NAM
Government News
New big steel project ground-broken in VN
VGP – The Thái Trung Rolling Mill Joint-stock Company, a subsidiary of the Việt Nam Steel Corporation (VSC), today began the construction of a new steel factory with the capacity of 500,000 tons/year in the northern province of Thái Nguyên.
July 19, 2009 5:00 PM GMT+7
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Photo: VGP |
The plant is one of the biggest steel projects in Việt Nam now with a total estimated investment capital of VND 1,300 billion, said Mr. Đậu Văn Hùng, President of the VSC.
The 5.3 hectare project, located in Thái Nguyên City, is expected to come into operation in 15 months.
The factory will be equipped with the latest technologies from Europe, Japan and the US. Its major products include rolled steel, steel bars, and others, according to the VSC.
The project is expected to create 300 jobs for local residents and contribute around VND 500 billion annually to the State’s budget.
The factory is part of the VSC’s efforts to expand the Thái Nguyên Iron and Steel Corporation.
By Hải Minh