December 02, 2008

POSCO to build USD 5.3 billion steel plant in Vietnam

It is reported that the Republic of Korea’s POSCO group has submitted a feasibility study to build a steel plant in central Vietnam,

According to Mr Pham Chi Cuong President of Vietnam Steel Association, if licensed, construction of the USD 5.3 billion plant in the central coastal province of Khanh Hoa will start in November 2008 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 and 8 million tonnes respectively.

POSCO is currently building an USD 11.5 billion steel complex in Khanh Hoa province’s Van Phong Bay together with the Vietnam Ship building Industry Group.