Vietnamese, Indian firms to invest 5 bln USD in steel complex
14/8/2008 17:32
India's Tata Steel, the world's sixth biggest steel maker, and two
Vietnamese state corporations will pour US$5 billion into developing a steel
complex in Vietnam's central Ha Tinh province, local newspaper Vietnam Economic
Times reported today.
Under a deal signed by Tata Steel, the Vietnam Steel
Corporation and the Vietnam National Cement Corporation yesterday, they will
build the complex with an annual capacity of 4.6 million tons of steel products
in three phases with the first two phases lasting from 2008 to 2013.
The
complex is predicted to reach its full annual capacity of 4. 6 million tons by
2015, when it employs some 20,000 people.
Vietnam's total demand for steel
products is estimated at 15-18 million tons in 2015, and 20-22 million tons in
2020, the newspaper quoted Dau Van Hung, general director of the steel
corporation, as saying.
Xinhua
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