The Economic Zone Management Board in the central province of Ha Tinh has signed a document terminating a steel complex project with total investment capital of VND1.76 trillion (US$81.14 million) for running five years behind schedule.
|An abandoned item at the steel complex project in Ha Tinh (Photo: SGGP)|
It was designed to have a capacity of 250,000 tons a year which would extend to 500,000 in the second phase.
The 25.81 hectare project was changed for the third time in December 2009. However many items of the projects have been abandoned for the last several years.
The plant should have completed a pilot production of commercial steel billets in 2010 but it failed to do so.
Many items have run downgraded while machines and equipments have been rusty and badly damaged.