Investment on the Bekaert Vietnam-Dung Quat steel wire and wire rope factory in the central province of Quang Ngai has recently been approved (Illustrative photo: tt-s.com)
 
Quang Ngai (VNA) – Investment on the Bekaert Vietnam-Dung Quat steel wire and wire rope factory in the central province of Quang Ngai has recently been approved, according to the Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority.

The factory will be invested in by NV Bekaert SA Company of Belgium with 2.91 trillion VND (125 million USD), becoming the second largest foreign direct investment project in Quang Ngai province, following one of the Doosan Vina Heavy Industry.

The project will cover 40 ha at the VSIP Quang Ngai in Tinh Tho commune of Son Tinh district.

Upon completing legal procedures, construction of the factory will start in 2019’s third quarter and it will become operational in 2021. The factory will manufacture steel wire rope used in car tyres, as well as other products for automobile and other industries, with annual capacity of nearly 80,000 tonnes.-VNA