Workers produce cast iron at the Viet - Trung Iron and Steel Plant. — Photo baomoi.com

HA NOI (Biz Hub) ― The Viet - Trung Iron and Steel Plant in the northern province of Lao Cai rolled out its first cast iron batches on Monday.

The plant is expected to begin the production of steel ingots early next month.

Viet - Trung Metallurgy Company Director Nguyen Van Toan said the factory can produce one million tonnes of the metals per year, and this capacity will be doubled in the future.

The plant is expected to generate about VND7 trillion, or US$333 million, worth of products per year, and contribute VND700 billion, or $33 million, to the State budget annually.

The factory's construction began in 2011 with a total investment capital of $337 million. It is said to be the second largest of its kind in Viet Nam in terms of size and production capacity, after the Thai Nguyen Iron and Steel Plant.

The metallurgy company is a joint venture between the Viet Nam Steel Corporation and a Chinese iron and steel firm. ― VNS