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US$300 million for forged and rolled steel project in Ba Ria-Vung Tau
The Pomina Steel Joint Stock Company, the Vietnam Industrial and Commerical Bank (VietinBank) and Concast the equipment supplier have signed an investment contract for the biggest forged and rolled steel project in Vietnam.
The project will be located in Phu My industrial zone, Tan Thanh district in Ba Ria-Vung Tau City and has a total investment of over US$300 million. The construction work is scheduled for completion in 3 years.
The project comprises of a forged steel mill with a capacity to produce 1 million tonnes per year, a rolled steel mill to produce 500,000 tonne per year and a seaport, which will be able to handle 3 million tonnes of cargo annually.
With its new forged steel mill, Pomina Steel JSC will increase its total forged steel capacity to 1.5 million tonne/year, becoming the biggest forged steel enterprise in the country. The plant will be the 20th in the world to apply Italy’s advanced Consteel-Techint technology.
Pomina is already operating a rolled steel mill with the biggest capacity in Vietnam (1.1 million tonnes/year).
All Pomina’s factories use the latest European technology, including Vai Siemen, Vai Pomini, Concast SMS and Tenova.
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