Vina Roma Quang Tri Steel JSC has proposed building an iron and steel complex in the southeast province of Quang Tri with the total investment capital of just over $2 billion.
|Vina Roma proposes $2 billion Quang Tri iron and steel complex |
According to the investor’s proposal, Vina Roma Quang Tri will produce raw steel, section steel, and hot-rolled plate with modern European technology and an annual capacity of 4.5 million tonnes.
The complex will cover an area of just over 460 hectares in Quang Tri Southeast Economic Zone.
The construction will be implemented over three periods. The first has an investment capital of around $650 million and a capacity of 1.1 million tonnes per year. The second phase comes with an injection of a further $390 million to double the annual capacity. The third period is designed to generate 2.3 million tonnes of steel with the total investment capital of $1 billion.
The complex is expected to generate 4,000 jobs.
Chairman of Quang Tri People’s Committee Vo Van Hung has agreed to the policy and assigned the committee to assist investors in completing procedures.
Hoa Phat Group also has plans to start the construction of the second phase of the Hoa Phat Dung Quat Iron and Steel production complex.
The complex’ second phase will have the total investment capital of $4 billion and produce hot-rolled coiled steel. The plant is expected to come into operation in 2024, increasing the total capacity to 11 million tonnes per year.