Steel plant italian investment in Vietnam

Danieli, an Italian contractor, and Thai Trung Steel Joint Stock Company of Vietnam signed an engineering, procurement and construction deal on July 16 to invest VND1.3 trillion (US$76.47 million) to build a steel plant in the northern province of Thai Nguyen.

Construction of the plant, which has an annual capacity to produce 500,000 tons, is expected to begin this Sunday, July 19 on an area of 5.3 hectares.

Once operational in the fourth quarter of next year, the plant is expected to churn out 100,000 tons of steel. It will be running at full capacity in 2012, the paper noted