RoK firm submits plan to build 5.3 bln USD steel plant

The Republic of Korea’s (RoK) Posco group has submitted a feasibility study to build a steel plant in central Vietnam, according to Vietnam Steel Association President Pham Chi Cuong.

If licensed, construction of the 5.3-billion-USD plant in the central province of Khanh Hoa will start in November this year and be completed in March 2013.

In the first phase, the plant will be capable of producing 4 million tonnes of hot rolled steel and 2 million tonnes of sheet steel a year.

In the second phase, the figures will be raised to 6 million tonnes of hot rolled steel and 8 million tonnes of sheet steel.

Posco is currently building an 11.5-billion-USD steel complex in Khanh Hoa province’s Van Phong Bay with the Vietnam Ship-building Industry Corporation (Vinashin).

Posco has three other joint venture steel production projects in Vietnam.

VNA

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