A joint venture between Vietnam Shipbuilding Industry Group (Vinashin) and Malaysia’s Lion Group on Nov. 23 kicked off construction of a US$9.8 billion steel complex in the central province of Ninh Thuan.
Expected to be the largest of its kind in the country, the Ca Na Steel Complex will cover an area of 1,650 hectares of land and 300 hectares of water surface in Phuoc Diem commune, Ninh Phuoc district.
Once operational in 2025, the hi-tech complex is expected to turn out 14.42 million tonnes of steel annually and provide jobs for around 50,000 local labourers.
The project also includes two thermoelectric power plants with a combined capacity of 1,450 MW and a seaport capable of handling 15 million tonnes of cargo each year.
Speaking at the ground-breaking ceremony, Chairman of the Ninh Thuan provincial People’s Committee Hoang Thi Ut Lan urged local authorities to create favourable conditions for the investor to implement the project.
On the occasion, the Vinashin-Lion joint venture donated VND2 billion to poor patients and students in the province.