Posco completes construction of Vietnam steel center
Posco, Asia's third-biggest steelmaker, finished building a steel-processing factory in Vietnam, its first such plant in the Southeast Asian nation.
By Agencies |
SEOUL: Posco, Asia's third-biggest steelmaker, finished building a steel-processing factory in Vietnam, its first such plant in the Southeast Asian nation.
Posco owns 80 per cent of the $13.8-million venture located near Ho Chi Minh City, while Metal One Corp, an affiliate of Japan's Mitsubishi Corp, holds the rest, the Pohang, South Korea-based company said today in an e-mailed statement.
In November, Posco said it would spend $1.13 billion to build two steel mills in Vietnam, joining global rivals such as Arcelor Mittal in seeking to build plants in Asia's growing economies.
Posco-Vietnam Hochiminh Processing Center will produce annually 100,000 metric tons of steel products used in home appliances, construction and machinery, the statement said.
Posco owns 80 per cent of the $13.8-million venture located near Ho Chi Minh City, while Metal One Corp, an affiliate of Japan's Mitsubishi Corp, holds the rest, the Pohang, South Korea-based company said today in an e-mailed statement.
In November, Posco said it would spend $1.13 billion to build two steel mills in Vietnam, joining global rivals such as Arcelor Mittal in seeking to build plants in Asia's growing economies.
Posco-Vietnam Hochiminh Processing Center will produce annually 100,000 metric tons of steel products used in home appliances, construction and machinery, the statement said.
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