Steelmaker begins construction on $220 million plant
BA RIA-VUNG TAU — Steel Vina Kyoei Co started construction of one more steel production factory worth $220 million in southern Ba Ria-Vung Tau Province.
The factory, located in Phu My 1 Industrial Zone, Tan Thanh District, has three workshops. The first workshop will produce 500,000 tonnes of ingot per year to be processed into rolled steel by the second workshop with a capacity of 400,000 tonnes a year and into higher quality steel with a capacity of 100,000 tonnes per year.
The factory is expected come on line in June, 2014, bringing total capacity of Vina Kyoei two factories to nearly 1 million tonnes of steel per year. The existing factory has a capacity of 450,000 tonnes per year. — VNS