POSCO breaks ground for Vietnam mill

Submitted by editor on Tue, 10/14/2008 - 09:28

POSCO breaks ground for Vietnam mill

POSCO, Korea's largest Steel Company, started yesterday the construction of a cold rolling steel mill Vietnam, company officials said.

The plant, scheduled for completion in September 2009, is the first part of the company's $1.13 billion project for building two rolling mills in the Phu My Industrial Park in Ba Ria-Vung Tau province near Ho Chi Minh City.

The $490 million plant, with its production capacity of 700,000 metric tons of cold-rolled coil and 500,000 tons of full-hard steel products, will be the largest plant of its kind in Vietnam.

Cold-rolled coil steel is used in automobile and motorbike production, and full-hard steel products are commonly used in construction.

In the second stage of the project, the steelmaker plans to construct a hot rolling plant with an annual production capacity of 3 million tons by 2012.

The company is also building a private harbor in the industrial park to support the two plants and is carrying out feasibility studies for a stainless steel plant and an integrated steel mill in Vietnam.

<< The Korea Herald, 2 August 2007 >>