The Economic Zone Management Board of the central province of Ha Tinh has approved the investment policy for a stainless steel plant project in Hoanh Son Ward with an estimated investment capital of VND9.8 trillion ($372 million).
Under the decision, the project will be developed by a joint venture comprising Singapore-based Singvin Asset Management Pte. Ltd., Land River Holdings Pte. Ltd., and Son Ha Dong Nai Industrial Park Investment Joint Stock Company.
The plant will cover more than 66 hectares in the Vung Ang Economic Zone and have a designed capacity of 2 million tons per year. Its products, with thicknesses of 2.5–5 mm and widths ranging from 1,000 to 1,580 mm, will serve the manufacturing, construction and supporting industries.
The facility’s hot-rolling line will have a capacity of 1.95 million tons annually, supported by a synchronous production system to meet strong domestic demand while targeting export markets. The project is regarded as one of the most significant heavy-industry investments approved in the Vung Ang Economic Zone in recent times.
To date, the Vung Ang Economic Zone has attracted 156 projects, including 56 foreign direct investment (FDI) projects, with total registered capital exceeding $16 billion.
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