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VietNamNews

Quang Ngai Province helps restart steel project

Update: July, 25/2012 - 10:16

QUANG NGAI — The central coastal province of Quang Ngai will ert efforts to help overcome financial difficulties to get the Taiwanese-invested Guang Lian Dung Quat steel project up and running.

The zone's management unit had allocated more than 222ha of land to the investor, including 71.8ha cleared. The remaining areas were in the process of clearance.

The steel plant was licensed in 2007 with an initial investment capital of US$3.3 billion that is expected to increase to $4.5 billion soon to upgrade technology.

The project first phase is expected to be completed next year. The plant is a joint venture between Taiwanese Tycoons Group Enterprise who are involved in the manufacture of steel products, and E-United Steel Group a steel producer in Taiwan. VNS

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