Posco plans to invest $4.5 bln in steel production in Vietnam

http://www.chinaccm.com 2007-8-15 8:1

    Posco, the world's third-largest steel maker from South Korea, 
is considering to invest 4.5 billion U.S. dollars in building a 
hot-rolled steel mill in Vietnam, local newspaper Vietnam News 
reported Tuesday. 

    The future plant, expected to be located in Van Phong Bay in the 
central coastal province of Khanh Hoa and adjacent to a key seaport, 
will have an annual production capacity of 4 million tons in the 
first phase and eight million tons in the second one. 

    The South Korean firm has planned to complete the plant's 
feasibility study in 2007, start the construction in 2009 and finish
 it in 2010. 

    POSCO has planned to cooperate with Vietnam's largest ship builder
,
 the Vietnam Shipbuilding Industry Group to build the mill, in which 
the Vietnamese side holds 30 percent of stakes. 

    Earlier this month, POSCO started to construct a 1.1-billion 
dollar cold-rolled steel plant, scheduled to begin production in 2009
 in Vietnam's southern Ba Ria Vung Tau province. 
 
    Source: Xinhua