 |
The factory, with an investment capital of about US$220 million, can produce 500,000 tonnes of steel per year. — Photo vinakyoeisteel.com.vn
|
BA RIA - VUNG TAU (Biz Hub) — Vina Kyoei Steel Ltd launched the operations of a new steel factory in Phu My 1 Industrial Park in the southern Ba Ria - Vung Tau Province on July 24.
The factory, with an investment capital of about US$220 million, can produce 500,000 tonnes of steel per year.
The first joint venture between Japan and Viet Nam in steel production, Vina Kyoei plans to increase its annual productivity to 800,000 to 1,000,000 tonnes of steel to meet the increasing demand in the Vietnamese market.
Since launching operations in Ba Ria-Vung Tau in 1994 with a US$69-million investment, Vina Kyoei has supplied six million tonnes of steel to the construction sector so far. — VNS