A production line of construction steel firm TISCO. The company expects lower revenue this year. — Photo talkvietnam.com

HA NOI (Biz Hub) — Thai Nguyen Iron and Steel Joint Stock Corporation plans to report a total turnover of about VND7.5 trillion (US$333 million) this year, down from last year's VND8 trillion ($356 million).

No profit target of the company has been reported, while it is expected to contribute more than VND300 billion ($13.3 million) to the State budget in 2016. Last year, it obtained some VND70 billion ($3.1 million) in profits, according to the Vietnam News Agency.

This year, the company targets production yields of 730,000 tonnes of laminated steel and 360,000 tonnes of pig iron. Last year's output was 720,000 tonnes and 350,000 tonnes, respectively.

The construction steel manufacturer is better known as TISCO and headquartered in the northern province of Thai Nguyen. — VNS