Prime Minister Nguyen Tan Dung has given South Korea’s Posco his blessing to build a cold-rolled steel mill in the southern province of Ba Ria-Vung Tau.
Posco steel pipes
The world’ third largest steel maker plans to start building the 700,000 tons-per-annum mill in Phu My II Industrial Park next October and finish it sometime in 2009.
The US$361-million project will turn out products for commercial vehicles, motorbikes and construction.
Hot-rolled coil to supply the new mill will come from Posco’s mill in India.
As always when the big projects arrive, the PM has ordered the Ba Ria-Vung Tau People’s Committee to cooperate fully with the relevant ministries and other government agencies so that Posco has a clear run completing the investment procedures.