US group Eminence plans to pour US$30 billion into building a steel plant
and auxiliary establishments in Vietnam's central region, local newspaper Young
People reported today.
Eminence will submit its investment plan, some time in the second quarter, to
the Vietnamese government for approval.
The plan includes 26 billion dollars for the plant and 4 billion dollars for
such establishments as a thermoelectric plant, a shipyard, an urban residential
area and a research institute, the newspaper quoted Le Dinh Tho, head of the
management board of the Nghi Son economic zone in central Thanh Hoa province, as
saying.
The U.S. group will spend 8 billion dollars building the steel plant from
2007 to 2012, and 18 billion dollars upgrading the plant in the 2013-2020
period. Once completed, the plant will have annual capacity of 30 million tons
of steel products, mainly high-class items for export, and employ some 10,000
people.
Eminence's future project with a total capital of 30 billion dollars, the
biggest-ever foreign-invested project in Vietnam, is expected to be carried out
in the economic zone, said the report.
By April 22, Vietnam had housed operational 7,086 foreign-invested projects
with total registered capital of roughly 64.2 billion dollars.
Among 77 foreign countries and regions having investment in Vietnam,
Singapore ranked the first with 469 projects totaling nearly 8.8 billion
dollars, followed by South Korea and China's Taiwan, according to statistics
from the Vietnamese Ministry of Planning and Investment.
