Posco Group, the world’s third-largest steel manufacturer, will build a hot-rolled steel plant in central Vietnam’s Khanh Hoa province.
The factory, to come up in Dam Mon peninsula, will have an initial annual capacity of 4m tons which will later be doubled.
Posco has tied up with local shipbuilding giant Vinashin to develop the project.
Vinashin, known formally as the Vietnam Shipbuilding Corporation, will contribute 30 percent of the capital required for the project.
The plant will be ready after 2010.
competitiveness in the production and supply of steel-based products.
Source: Dau Tu, Thanh Nien