VietnamNewsToday.com

S Koreans start $139m steel mill

DONG NAI — The POSCO VST Co Ltd Viet Nam, a subsidiary of South Korea-based POSCO group, held a groundbreaking ceremony yesterday for its new stainless steel cold rolling mill in the southern province of Dong Nai's Nhon Trach District.

The US$130 million mill, to cover 39,000 square metres, is expected to operate in February 2012.

The mill will be the biggest stainless steel plant in the country, with the capacity of 150,000 tonnes per year and will employ 400 labourers.

Products will be provided for local demand and exported to Southeast Asian, European and American markets.

Big hopes

"The dynamic and potential of the Vietnamese economy has led us to expand investment, with the hope of increasing the total capacity for the mill to 285,000 tonnes in the future, meeting all local demand," said Chung Joon Yang, managing director of POSCO group, who delivered the opening speech at the ceremony.

Viet Nam's demand is high, and most stainless steel is imported.

Founded in South Korea in 1968, POSCO is the world's fourth largest steel group. It established an office in Viet Nam in 1991.

From VietNamNews

Newer Articles
  • Mazut oil imports won’t be tax-exempt, says Deputy PM
  • Digital printing industry set to grow in Vietnam
  • Steel industry targets energy saving opportunities
  • Ministry urges EVN not to raise rates more than once per quarter
  • PetroVietnam achieves 67.4 pct of year’s plan
  • Industrial park moves offset FDI downturn
  • Cement industry loses loan guarantees
  • Electricity price should have been raised by 50pct instead of current 15pct
  • Vietnam lacks construction standards for underground car parks
  • Phong Phu and Song Da groups apply for upgrading National Highway No 6
Older Articles
  • Vietsovpetro extends co-operation
  • Wintek kicks-off its touch screen plant in Vietnam
  • City targets 11% rise in foreign tourists
  • Subterranean plan to boost city space
  • Support urged for auto industry
  • Vietnam needs VND12T for road infrastructure projects next year
  • Tourism industry targets Russia
  • Itochu to participate in bio-ethanol production business with PetroVietnam
  • Indochina Airlines still hit by turbulence
  • European Bank funds HCMC’s urban railway
Latest News
  • Vietnamese software firms consider Japan as the major market
  • Despite problems, 2011 FDI spending equals 2010
  • EVNTelecom asks for government’s approval to sell 12pct stake for VTC
  • Vietnamese enterprises expanding into international markets
  • Ernst & Young Vietnam role to be examined
  • Vietnamese firms invest over $24.5b in foreign countries as of July-end
  • Vietnam Insurance Market: Keeping Double-digit Growth
  • Vietnam’s economy looks grim with ADB’s forecast
  • Ministry rejects import-export tax changes
  • Government okays anti-dumping suit against US
For Foreigners
  • Adb: policy tightening will lower inflation
  • HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale
  • Vietnam govt to service debt for troubled cement projects
  • Calm heads prevail as the forex market to remain cool
  • Further fiscal & monetary tightening in coming months
  • IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011
  • Vietnam’s dong has best week since 1997 after dollar rates curb
  • Vietnam tightens control over state-bank partnership
  • Foreign investors list problems in Vietnam
  • Foreign invested enterprises complain about customs procedures

BusinessTradeVietnamGovernmentFDIWorld economyVietnamese PartyEconomyEconomicMarketState managementPrime MinisterHCM cityHanoiHo Chi MinhCPIAsianWorldAmericaEuropeNguyen Tan DungHau GiangMekong DeltariceStandingMekongCambodiausajapanchinakoreaLai ChauHoa BinhHoi AnChu LaiQuang NamDa nangCan thoSon LaPower PlantMinistry of IndustryDung QuatOilSingaporeThailandMalaysiaIndonesiaLaosVietnameseFDI capitalinvestorsforeign investorNetherlandsUSservicetransportationinfrastructuretourismVNPostExpressSpainGoldTra fishexportcontractstouristMiddle AreaConstructionShipbuildingIndustryCompanyIndustrial ZonebudgetDong NaiBinh DuongVung TauTay NinhBinh PhuocTay NinhLong AnTien GiangUS investorshydropower plantQuang NinhNha TrangStock ExchangeHNXIndexcapitalAgricultureDong ThapAn GiangExport-Processing ZoneYen BaiLao CaiLai ChauDien BienSon LaHoa BinhPhu ThoHa GiangTuyen QuangBac KanLang SonCao BangmanufacturersAseanRussiadevelopmentAviationinflationHong KongAmericanChamber of CommerceSeafoodODAWBIMFFEDAsia-PacificAssociationcountriesEuropeanmarine economyThanh HoaNghe AnNam DinhHa TinhPhu LýVinh PhucBac NinhBac GiangHung YenHai DuongBinh ThuanBinh PhuocLam DongGia LaiKon tumQuang NgaiQuang BinhQuang TriNinh ThuanCa MauBac LieuSoc TrangTra VinhKien GiangVinh LongBen TreincomespoliciesLawassetsNatural GasBuildingstatisticsstrategyDa Latmineral exploitationprocessingindustrieselectricitywatersupplyEnterprisesforestryfisherycommunicationsreal estatetransportationCorruptionbauxiteSecuritiesInsuranceBankFinanceAccountgoodsTrade BalancecoffeeCoalfestivalHa NamNinh BinhHoa BinhUniversityArtsBooktravelVietnam VisaVisaPagodaCommitteePeople's CommitteeVinashincompaniesHoa PhatHSBCACBvietcombankvietinbank

Copyright 2010 © VietnamNewsToday.com 
Powered by: CIINS Design by: Webdesign.vn