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VN-Italy steel firm to invest VNĐ1.6 trillion in production

Update: May, 15/2017 - 16:24
Việt Nam-Italy Steel Joint Stock Company (VIS) plans to invest VNĐ1.658 trillion (US$72.7 million) in three projects to expand its production capacity. - Photo VIS
Viet Nam News

HÀ NỘI – Việt Nam-Italy Steel Joint Stock Company (VIS) plans to invest VNĐ1.658 trillion (US$72.7 million) in three projects to expand its production capacity, Vietnam News Agency reported.

VIS aims to increase the capacity of its steel and pig iron mills and build new ones through these investments. While 30 per cent of the investment will come from VIS’ capital, 70 per cent will be raised through banking loans.

In the second quarter, VIS plans to invest VNĐ800 billion to build a steel mill with an annual capacity of 500,000 tonnes in Hải Phòng City’s Đông Nam Cầu Kiền Industrial Zone, located in Thủy Nguyên District.

In the fourth quarter, the company will invest VNĐ650 billion to build a steel mill with an annual capacity of 500,000 tonnes in Hưng Yên Province’s Phố Nối A Industrial Zone, in Yên Mỹ District.

At the same time, it will invest VNĐ208 billion to increase the capacity of its steel mill in Đông Nam Cầu Kiền Industrial Zone to 600,000 tonnes per year. – VNS

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