Tisco products are used in many important national projects. The corporation is expected to receive $47.6 million from the State Capital Investment Corporation to improve production. — Photo tisco.com.vn

HA NOI (Biz Hub) — Thai Nguyen Iron and Steel Corporation (Tisco) has registered with the State Securities Commission to sell its individual shares.

The registration was done after the Prime Minister allowed the State Capital Investment Corporation (SCIC) to contribute VND1 trillion (US$47.6 million) to Tisco to improve production.

The capital will be invested in the second phase of Tisco's production expansion project. The VND4 trillion ($190.47 million) phase is one of the top seven projects listed in the Viet Nam Steel Industry Development Plan for the 2010-15 period.

With this latest move, Tisco can receive capital from SCIC, thus increasing its registered capital to VND2.84 trillion ($135.23 million).

Tisco is the first unique metallurgic zone in Viet Nam with an integrated production line that covers a range of processes from exploiting iron ore to making cast iron, steel billets and rolling steel.

Its products are used in important national projects such as Hoa Binh, Yaly and Son La hydroelectric power plants, the North-South 500-KV power line and My Dinh National stadium, as well as the Thang Long and Chuong Duong bridges. It has also successfully penetrated international markets, including those in Canada, Indonesia, Laos and Cambodia. — VNS