Chinese firm bids to build Essar's steel plant in Vietnam
China Metallurgical Group Corporation (MCC) has emerged as one of the bidders for building Essar Steel's two million ton steel plant in Vietnam.
By PTI |
NEW DELHI: China Metallurgical Group Corporation (MCC) has emerged as one of the bidders for building Essar Steel's two million ton steel plant in Vietnam.
"MCC is among the bidders for the contract to build Essar's 2 MT per year hot strip mill in Vietnam," the Metal Bulletin (MB) reports, quoting a Vietnam Steel Corporation (VSC) official.
The proposed steel plant is a joint venture wherein Essar would hold 65 per cent stake, VSC 20 per cent and the rest 15 per cent would be held by Vietnam General Rubber.
"The joint venture company, Essar Vietnam Steel Corporation, is in the process of awarding a two-year engineering, procuring and construction contract for the mill to be built in Ba Ria-Vung Tau region of Southern Vietnam," it quoted the official as saying.
A Essar Steel spokesman, when contacted, did not confirm the same.
It was not clear when the bidding process would end, how much the contract was worth or when construction could begin, but Essar Steel has said that the plant could start producing in late 2009, the MB said.
Major Italian engineering and construction firm Danieli has warned that Chinese metallurgical equipment suppliers will pose a growing challenge to European firms even as China's top construction firm MCC wins an increasing number of overseas contracts, it said.
"MCC is among the bidders for the contract to build Essar's 2 MT per year hot strip mill in Vietnam," the Metal Bulletin (MB) reports, quoting a Vietnam Steel Corporation (VSC) official.
The proposed steel plant is a joint venture wherein Essar would hold 65 per cent stake, VSC 20 per cent and the rest 15 per cent would be held by Vietnam General Rubber.
"The joint venture company, Essar Vietnam Steel Corporation, is in the process of awarding a two-year engineering, procuring and construction contract for the mill to be built in Ba Ria-Vung Tau region of Southern Vietnam," it quoted the official as saying.
A Essar Steel spokesman, when contacted, did not confirm the same.
It was not clear when the bidding process would end, how much the contract was worth or when construction could begin, but Essar Steel has said that the plant could start producing in late 2009, the MB said.
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Major Italian engineering and construction firm Danieli has warned that Chinese metallurgical equipment suppliers will pose a growing challenge to European firms even as China's top construction firm MCC wins an increasing number of overseas contracts, it said.
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