A view of Nghi Son economic zone in the central Thanh Hoa province (Photo: tbck.vn) Hanoi (VNS/VNA) - Chinese steelfirm Mintal Group Co. Ltd has expressed a desire to build a 2 billion USDFerocrom, stainless steel and non-ferrous metal factory in central Thanh Hoaprovince’s Nghi Son economic zone.
The issue was discussed during a recentmeeting between the Mintal Group’s representatives and the provincial People’sCommittee .
Specifically, the group will invest in aFerocrom factory with a capacity of 1.5 million tonnes per year in the firstphase and a stainless steel factory with a capacity of 1 million tonnes ofsteel and 1 million tonnes of non-ferrous metal per year in the second phase.
It is estimated that 80 percent of rawmaterials for production will be imported from South Africa, while theremaining 20 percent is expected to be purchased in Vietnam.
If the investment plan is approved, the MintalGroup will lease 300ha of land in Nghi Son Economic Zone, near the port area,to construct the factory.
Speaking at the meeting, Chairman of theThanh Hoa People’s Committee Nguyen Dinh Xung required the Nghi Son economiczone’s management board, provincial departments and agencies to instruct MintalGroup to survey the location and quickly complete relevant documents andprocedures, to soon receive the investment policy decision by the provincialPeople's Committee at the end of September or the beginning of October, whenThanh Hoa province held 2019 investment promotion conference.
However, Xung noted that when investing inthis factory, the Mintal Group must commit to Thanh Hoa province on investingand applying the most advanced and modern technology to minimise the impact onthe environment, as well as complying with Vietnamese laws on environmentalprotection.
At the meeting, the Mintal Group and the managementboard of Nghi Son economic zone and industrial zones also signed amemorandum of understanding (MoU) on investing in the Ferocrom, stainlesssteel and non-ferrous metal factory.
The Mintal Group is one of the world'sleading corporations in manufacturing Ferocrom, stainless steel and non-ferrousmetals. Currently, the group has one factory located in China and the secondone is planned to be built in the Nghi Son economic zone.-VNS/VNA
The issue was discussed during a recentmeeting between the Mintal Group’s representatives and the provincial People’sCommittee .
Specifically, the group will invest in aFerocrom factory with a capacity of 1.5 million tonnes per year in the firstphase and a stainless steel factory with a capacity of 1 million tonnes ofsteel and 1 million tonnes of non-ferrous metal per year in the second phase.
It is estimated that 80 percent of rawmaterials for production will be imported from South Africa, while theremaining 20 percent is expected to be purchased in Vietnam.
If the investment plan is approved, the MintalGroup will lease 300ha of land in Nghi Son Economic Zone, near the port area,to construct the factory.
Speaking at the meeting, Chairman of theThanh Hoa People’s Committee Nguyen Dinh Xung required the Nghi Son economiczone’s management board, provincial departments and agencies to instruct MintalGroup to survey the location and quickly complete relevant documents andprocedures, to soon receive the investment policy decision by the provincialPeople's Committee at the end of September or the beginning of October, whenThanh Hoa province held 2019 investment promotion conference.
However, Xung noted that when investing inthis factory, the Mintal Group must commit to Thanh Hoa province on investingand applying the most advanced and modern technology to minimise the impact onthe environment, as well as complying with Vietnamese laws on environmentalprotection.
At the meeting, the Mintal Group and the managementboard of Nghi Son economic zone and industrial zones also signed amemorandum of understanding (MoU) on investing in the Ferocrom, stainlesssteel and non-ferrous metal factory.
The Mintal Group is one of the world'sleading corporations in manufacturing Ferocrom, stainless steel and non-ferrousmetals. Currently, the group has one factory located in China and the secondone is planned to be built in the Nghi Son economic zone.-VNS/VNA
VNA
