ESSAR AND VSC IN VIETNAM VENTURE

摘要

Essar Steel and Vietnam Steel Corp (VSC) plan to build a 2 million tpy hot strip rolling mill in southern Vietnam. The two steelmakers along with Vietnam General Rubber Corp signed a joint-venture deal to start building the mill in Hanoi last week, Essar Steel said. The joint company, to be known as Essar Vietnam Steel Corp, will set up a hot strip mill with an initial capacity of 2 million tpy of hot rolled coil, sheet and skin passed coil. The 527 million dollars plant will take an estimated 30 months to complete, giving a rough target date of late 2009. The plant will not include a meltshop, an Essar Steel official told MB. "We will import slab into Vietnam and roll them there," he said. Essar Steel will hold a 65-percent stake in the joint venture through its Vietnam unit, while VSC will take a 20-percent stake and state-owned Vietnam General Rubber will hold the remaining 15 percent. The mill will be located in the Phu My Industrial Zone in Ba Ria-Vung Tau province in southern Vietnam. The province has good road connections and the plant site is near a port, Essar Steel said.