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Vietnam ministry decides not to rely on 12 steel projects -The 18th China(Guangzhou ) Int¡¯l Casting product Exhibition
12/15/2016 casting expo |
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VNS reported that Vietnam ministry of industry and trade has decided not to rely on 12 steel projects deemed ineffective while drawing up its master plan on steel production till 2025. These projects, estimated to have a total capacity of 6,520 tonnes of steel ingots and 1,350 tonnes of cast-iron and sponge iron, have been removed from the master plan because of ineffective investments and incapable investors.
Two huge projects the 1,000 tonne steel ingot factory in northern Ninh B¨¬nh Province, funded by Kyoei Steel Vietnam Company Ltd., and Phase 2 of Th¨¢i Nguy¨ºn Iron and Steel Corporation¡¯s production expansion project in northern Th¨¢i Nguy¨ºn Province, which has an estimated annual capacity of 1,000 tonnes of cast-iron and sponge iron and 1,000 tonnes of steel ingots feature in the list.
Also on the list are two steel companies in southern H?u Giang Province, funded by Vietnam Steel Corporation, and the HK and CLC steel factory, jointly funded by Th? ??c and Bi¨ºn H¨°a steel companies. Both are designed to produce 1,000 steel ingots annually.
The ineffective projects list includes a number of projects proposed by local authorities, such as the L¨¤o Cai steel ingot factory run by L¨¤o Cai Steel and Cast-iron JSC; Thi¨ºn Thanh cast-iron factory, funded by Thi¨ºn Thanh Trade and Construction JSC; Vietnam-Italia steel plant¡¯s second phase by Vietnam-Italia Steel JSC; and Qu?ng B¨¬nh cast-iron and steel factory by Anh Trang Company Ltd.
Two projects that don¡¯t have investors are H¨¤ Giang steel factory in northern H¨¤ Giang Province and the S?n La steel ingot and cast-iron factory in northern S?n La Province.
In the ministry¡¯s draft master plan on steel production by 2025 and vision till 2035, the country¡¯s capacity is currently around 12.57 million tonnes of cast-iron and sponge iron and 12.31 million tonnes of various ingots. By 2020, the production is expected to rise to 21 million tonnes of cast-iron and sponge iron. The figure will be up to 46 million tonnes by 2025 and 55 million tonnes by 2035.
-The 18th China(Guangzhou ) Int¡¯l Casting
product Exhibition
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