At a seminar hosted in Ho Chi Minh City yesterday, the Saigon Industry Corporation announced the setting up of a VND2.8 trillion (US$133 million) steel production plant in Da Phuoc Industrial Zone in Binh Chanh District of Ho Chi Minh City.
|Country will benefit from steel plant in HCMC (Photo: VNA)|
The plant is expected to produce 24,000 tons of cast steel, 16,000 tons of cast iron, 12,000 tons of forged steel and 25,000 tons of plate steel annually.
As per plans, the two-phase plant construction project will be spread over 30 hectares and will use advanced and environment friendly technology to meet both domestic and international requirements.
Stating the details at the seminar, Le Manh Ha, deputy chairman of the People’s Committee of HCMC said that the project will boost the industrial development in HCMC as well as in the country. He offered all assistance in speeding up the project.