August 19, 2008
Vietnamese, Indian Firms to Invest 5 Bln USD in Steel Complex
Vietnamese, Indian firms to invest 5 bln USD in steel complex
HANOI, Aug. 14 (Xinhua) -- India's Tata Steel, the world's sixth biggest steel maker, and two Vietnamese state corporations will pour 5 billion U.S. dollars into developing a steel complex in Vietnam's central Ha Tinh province, local newspaper Vietnam Economic Times reported Thursday.
The complex is predicted to reach its full annual capacity of 4. 6 million tons by 2015, when it employs some 20,000 people.
Vietnam's total demand for steel products is estimated at 15-18 million tons in 2015, and 20-22 million tons in 2020, the newspaper quoted Dau Van Hung, general director of the steel corporation, as saying.
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