Formosa promotes the “super project” on integrated steel mill

By VnEconomy - 11/02/2011

Formosa was officially carried out 2.400 tons of equipment imported for sand suction, clearing site for Formosa Port & Integrated Steel Mill Complex project located in Vung Ang Industrial Zone (Ha Tinh), as a message to show determination to implement this project quickly.

Formosa promotes the “super project” on integrated steel mill

July 2008, Formosa has started the aforesaid project with total capital of phase 1 to 7,8 million USD, inclusive of integrated steel mill complex with capacity of 7,5 million tons per annum and Son Duong deep seaport with capacity of 30 million tons of goods per year. This is expected to be one of the largest steel mill complex in Southeast Asia, creating jobs for nearly 10,000 employees.

In phase 2, it is estimated that Formosa will invest for more than 8 billion USD to upgrade the steel mill’s capacity up to 15 million tones/year and port’s capacity to 60 million tones/year accommodating vessels of 200.000 – 300.000 DWT.

Last year, Formosa has made a proposal requesting some incentives from the Government to implement the project, that caught the considerable attention of public. So far, there is no official reply of the Government on this proposal.

Sharing with VnEconomy, Mr. Denny Chu – Chief Representative of Formosa in Vietnam, revealed that these equipments enhanced the sand suction and compaction in area of 1.000 ha and 4.5m thick. This work will be completed within 10 months.

The sand suction is estimated to be started on next March 1st. The total value of this package is up to 6.000 billion VND. Currently, Formosa is in strict collaboration with the local authorities to complete the preparation works.

This is considered as attentive action from Formosa since being officially handed over the project site from the People’s Committee of Ha Tinh province. On October 1st 2010, Vung Ang Economic Zone Authority has handed over 3.300 ha of land to Formosa Corporation.


Source: VnEconomy

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