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the project broken ground ceremony |
Quang Ngai is scheduled to hand over all 224.3 ha of licensed land in Dung Quat site to Vietnam Guang Lian Steel Co., ltd on the deadline of 30th July 2008, according to PPC’s Document No.53/BC-UBND dated 11 June 2008.
Vietnam Guang Lian Steel Co., Ltd established on 24th October 2007 covers the two stages of steel making project co-invested by Tycoons Worldwide Steel Vietnam Co., Ltd and Taiwanese E-United Corporation. Phase 1 is designed to have an annual capacity of 3 million tones of Billet and Hot rolled coil, with an investment of $ 556 million, and expected to put into operation in mid 2010, creating around 5000 jobs for local labourers. Meanwhile the whole mill, with 5 million tones of pig iron a year, shall expectedly be accomplished in 2012 with total capital of US$ 3.3 billion.
The first pile of plant’s foundation is planed to be driven on 8th August 2008, the source said.
Thu Huong |
