It is reported recently that many giant steel firms are again approaching Vietnam's steel enterprises to invest in Vietnam. India's Tata Group, with its target to invest overseas to be near to the market, has now approached to the authority to set up a 3.5 billion USD rolled steel facility near the Thach Khe iron mine in central Ha Tinh province. The project includes a rolling mill with capacity of 4.5 million tonnes a year. Another giant Indian steel company, Essar will also launch a project with Vietnam Steel Corporation and the Vietnam Rubber Corporation to set up a two million tonnes a year rolled steel facility, which will be located in Ba Ria-Vung Tau province.
Korea's Posco Group is having two projects in Vietnam. It plans to invest in a steel plant with a 3 million tonnes a year capacity of rolled steel in Ba Ria-Vung Tau province at the Phu My2 Industrial Zone. This project is scheduled to begin construction in August this year. Another project involves co-investing with Vietnam Shipbuilding Industry Corporation (Vinashin) to build a steel complex with a capacity of 5 million tonnes of steel plates and rolled steel per year.
Taiwan's Tycoons and E-United have just received permission to invest in a 5 million tonnes per year blast furnace project in the Dung Quat Economic Zone (construction will begin in mid-October).