Formosa steel project production capacity may be raised to 22m tonnes

The main investor of Formosa steel and iron cast complex project, Hung Nghiep Formosa Ha Tinh Co Ltd has recently expressed wish to raise the project’s production capacity to 22 million tonnes, instead of 15 million tonnes as mentioned in the issued investment licence.

The investor has not published any document to confirm about the accuracy of the released information. However, they have provided initial information about this plan. Accordingly, in the currently-allocated land area, the investor will re-organise the technological surface and relating equipment in order to increase the production capacity of the steel mill to 22 million tonnes of products per year.

When being asked for opinions about the new movement of Hung Nghiep Formosa Ha Tinh Co Ltd, some experts in Vietnam’s steel industry said that with the expanded capacity of 22 million tonnes, the project’s total investment capital may also be raised to over $20 billion. – Dautu

Tags: Formosa steel project, Vietnam steel industry, Vietnam steel market, Vietnam steel prices

Posted by VBN on Aug 25 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