Japan firm gets nod for $5 bil. steel plant feasibility study

Vietnam has allowed Japan’s JFE Steel Corporation, the world’s third-largest steel manufacturer, to conduct a feasibility study for a US$5 billion steel complex in the central province of Quang Ngai.

A statement posted on the government website on Wednesday said Deputy Prime Minister Hoang Trung Hai called for including the project schedule, kinds of products, market details, energy needs, and infrastructure requirements in the study.

After considering the study, the government would make a decision on the project, the statement said, without offering a timeframe.

The plant is expected to produce 6-10 million tons a year, it said, citing Akihiko Ishida, head of JFE Steel’s Planning and Cooperation Department.

Gas produced as by-product during the steel manufacturing process will be collected to feed the plant and sell to other businesses in the economic zone, as well as local consumers.

Source: Thanh Nien