Posco Gets Final Approval for Southern Steel Mill

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.

Source: VNA – Translated by Yen Chuong

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