December 02, 2008

Ground broken for Formosa steel complex and port in Vietnam

Vietnam Net Bridge reported that Mr Nguyen Tan PM of Vietnam attended the ground breaking ceremony for the iron and steel complex and Son Duong Formosa deep water port in central Ha Tinh province on July 6th 2008.

Mr Nguyen Tan during the ground breaking ceremony said that this is the biggest foreign invested project worth nearly USD 8 billion ever undertaken by the Formosa heavy industry group from Taiwan.

He praised the coordination among the Formosa group, the Ha Tinh provincial People’s Committee and other relevant ministries in completing the necessary procedures to carry out the project early. The project will play an important part in restructuring the economy of Ha Tinh province and the central region.

He also urged the Formosa group to accelerate the implementation of the project and to provide support for vocational training and university education program in the province and asked the provincial leaders to create favorable conditions for investors to implement the project. Mr Dung also urged the investors and local authorities to generate jobs for people who have to be relocated from the project site.

The iron and steel complex and Son Duong deep water port will be built at a cost of USD 8 billion for the first phase. The iron and steel plant will have an annual capacity of 7.5 million tonnes and the Son Duong deep water port 30 million tonnes. In the second phase, the plant’s annual capacity will increase to 15 million tonnes.