Construction of Dung Quat steel mill to cost $4.5b

The Taiwan-based Guang Lian Steel Vietnam Co Ltd plans to adjust the production capacity of the steel mill from five to seven million tonnes per year, and raise the investment capital for this project from $3 billion to $4.5 billion.

Nguyen Xuan Thuy, head of Dung Quat Economic Zone’s management board said yesterday that Ministry of Industry and Trade has already passed the proposal submitted by Guang Lian Steel Vietnam Co Ltd for increasing the production capacity of the steel mill in Dung Quat Economic Zone, Quang Ngai province from five million to seven million tonnes.

This is the third adjustment time of Dung Quat steel mill. In details, the steel mill’s construction area will be expanded from 478 hectares to 504 hectares. The construction works are divided into two phases: in the first phase, the steel mill has production capacity of 3.5 million tonnes per year and the second phase of 7 million tonnes per year.

From now up to the end of this year, the contractors are expected to finish the ground treatment works. The construction will be started in early 2011 and finished in 2013.

CafeF

Tags: Dung Quat steel mill, Vietnam steel industry

Posted by VBN on Jun 24 2010. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry