Commence the construction of the 1 million tons/year steel mill

By chinhphu.vn - 27/06/2012

On 27/6, at the industrial zone of Phu My 2, Ba Ria - Vung Tau, Posco Corporation of South Korea held the commencement for the construction of the Posco SS-Vina steel mill with the capacity of 1 million tons/year.

On the morning of 28-6-2012, the President Mr. Truong Tan Sang had a work visit with SP-PSA International Port and Cai Mep International Terminal (CMIT). Accompanying the delegation are Mr. Nguyen Van Trung, Deputy Minister of Planning and Investment; Mr. Tran Minh Sanh, Deputy Secretary of the Provincial Party Committee; Chairman of the People’s Committee of Ba Ria-Vung Tau; Mr. Nguyen Hong Linh, Deputy Provincial Secretary of Ba Ria-Vung Tau with a number of leaders of agencies at all level of Ba Ria-Vung Tau.With the total investment of 549 million USD, the project with the total scale of 1 million tons of steel of all kinds including 1 steel mill, 2 steel plants, building specialized port for loading and unloading of goods, creating jobs for more than 2,000 labors directly and indirectly.

Attending and giving a speech at the project, Deputy Prime Minister Mr. Hoang Trung Hai highly evaluated the effort and determination of the South Korean investor along with the partners in the cooperation and deployment of an industrial project with scale in Vietnam in the period whereas the economy is facing difficulties. This is seen as a meaningful message from foreign investors expressing trust in the prospect for development of Vietnam and long-term relationship in the investment environment in Vietnam.

Investment projects in the field of South Korea’s economy is an important contribution to increasing cooperation relationship between the two countries, major projects signed, implemented between the two partners have practical meanings in preparation of the coming 20th anniversary of establishing diplomatic relations between Vietnam and South Korea

The Deputy Prime Minister said that Posco SS Vina will contribute significantly to the development of the Vietnamese industry as well as the development of Ba Ria – Vung Tau with the goal of becoming an industrial province in 2005. Therefore, investors should endeavor to ensure the progress and quality commitment of the project; bringing the latest technology into production, focus on environmental standards, concern in using and training Vietnam human resources, soon master modern technology.

Investment in Vietnam since 1992, Posco Corporation has invested in various industrial projects with a total investment of 2.1 billion USD.

It’s expected that the product of Posco SS-Vina will be serving domestic consumption and linking with trade and production partners of Posco to export to international markets.

Nguyen Linh