Big steel project receives investment certificate

The Formosa Group of Taiwan will build a steel complex and a port at the Vung Ang Economic Zone in central Ha Tinh province.

Ho Anh Tuan, deputy head of the Vung Ang EZ Management Board, said that Formosa has received an investment certificate for the project.

The steel complex and the port, with a combined investment of nearly 7.9 billion USD for the first phase, is the biggest ever foreign-invested project in Vietnam .

Under a feasibility study submitted to the Prime Minister by Formosa , the 2,000 ha steel complex will have a capacity of 7.5 million tonnes a year in the first phase, which will be doubled in the second phase.

The Son Duong port will be built on 1,500 ha with a total investment of more than 619 million USD in the first phase.

Total investment in both phases of the steel complex and the port is estimated at more than 16.2 billion USD.

VNA

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