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| Shareholders meeting |
HCM CITY (Biz Hub) — Hoa Sen Group (HSG)'s shareholders have almost unanimously approved construction of a mammoth steel plant in the central province of Ninh Thuan.
At an extraordinary shareholders meeting held on Tuesday to seek approval for the project, 97.26 per cent voted for it.
The shareholders also unanimously left it to the board of directors to decide how to mobilise and use funds for the new plant and approved the incorporation of companies to carry out the project.
Five will be set up to carry out individual pars of the project.
To cost US$10.6 billion, the Hoa Sen Ca Na – Ninh Thuan Steel-making Complex will be built in Thuan Nam District with an annual capacity of six million tonnes in the first stage.
After it is fully completed in 2031 its capacity will rise to 16 million tonnes. — VNS