Formosa plans to expand Vietnam steel mill

Formosa Plastics Group may expand the capacity of a planned steel plant in Vietnam to 30 million metric tons a year, the Economic Daily News said, citing Kuo Yentu, an adviser to the company.

The mill will reach the capacity after its third phase of investment, the Taipei-based, Chinese-language newspaper said yesterday, citing Kuo, who didn't give a timeframe.

The first phase of the planned mill in Vietnam will have an annual capacity of 7.5 million metric tons, with a planned investment of $7.99 billion, Lee Chih-tsuen, a member of the group's executive committee, said June 19.

Thanhnien

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