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| Deformed steel bars produced by Steel Vina Kyoei Company. — Photo: Vinakyoeisteel.com.vn |
BA RIA-VUNG TAU (Biz Hub) — Steel Vina Kyoei Company (VKS) will be opening its second steel production factory, worth $200 million, in the southern province of Ba Ria – Vung Tau in the fourth quarter of this year.
The factory, located in Phu My 1 Industrial Zone, Tan Thanh District, will produce 500,000 tonnes of ingots and 500,000 tonnes of rolled steel per year.
Mitshuhiro Mori, VKS general director, told Tuoi tre (Youth Newspaper) that the new factory's production capacity would enable VKS to meet the steel sector's growing demand by doubling the company's current annual production of 450,000 tonnes .
VKS began operations in Viet Nam in January 1996, and its total investment is estimated at $280 million. — VNS