According to reports, Malaysian conglomerate Lion Group is considering plans to build a $7b steel mill in Vietnam as part of its regional expansion.
A Lion Group company has teamed up with Vietnam's state-owned Vinashin to conduct a feasibility study of the project, it said in a statement to the stock exchange late Tuesday.
Once the feasibility study is completed and approvals are obtained, a consortium will be formed to undertake the steel plant project, said Lion Corp., the group's main investment holding company in Malaysia.
The facility is earmarked for completion in the next 10 to 15 years, the statement said.
Source: International Herald Tribune