Vietnam government approved China Steel and Sumitomo to establish a joint venture plant in Vietnam
Published: 19 May 2009 01:30:14 PST
May 19 MetalBiz--Taiwan China Steel said on May 18 that Vietnam government had approved China Steel, Japan Sumitomo Metal and other partners to set up a cold-rolled coil steel mill in Vietnam.
China Steel disclosed that this cold-rolled coil plant is originally expected to reach to 1,600,000tons annual production capacity. The major customers are automotive and home appliance enterprises in Vietnam and other Southeast Asian countries.
China Steel earliest announced in August of 2008 to establish this joint venture plant took U.S.$1.15bln. According to the income, China Steel is Taiwan's leading steel enterprises.
The company did not reveal the identity of the other partners and when to begin construction.
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