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Vietnam's largest titanium plant opens today
Vietnam’s largest titanium plant opens today in Binh Dinh Province to supply the local market with 60,000 tons of titanium and 30,000 tons of steel a year.
The plant, developed by Saigon Quy Nhon Mineral Joint Stock Company on 10 hectares in the town of Quy Nhon’s Phu My District, has an investment capital of VND1 trillion, or US$55 million.
Half of the investment has been spent in the first phase, in which two of the facility’s five furnaces have been installed, said the company.
Dang Thi Hoang Phuong, the company’s chairwoman, said the plant was equipped with the most modern technology in Vietnam and would exploit titanium ore for export and to meet increasing demand on the local market.
Phuong said the plant would manufacture other titanium products like dioxide and other compounds in later phases.
The plant, which employs 500 local workers, will supply 24,000 tons of titanium and 12,000 tons of high intensity steel a year in the first phase, according to the company, an affiliate of Saigon Investment Group, which specializes in industry parks, energy, construction and tourism.
Titanium is used to produce strong lightweight alloys for the aerospace industry, sophisticated electronic devices and nuclear plants.
Binh Dinh has estimated titanium reserves of more than 10 million tons in protected forest areas along the coastal districts of Phu My and Phu Cat, and Quy Nhon Town.
Minh Quang
thanhnien
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