Vietnam-China Mineral and Metallurgy Co., Ltd (VTM) and Kunming Iron and Steel Group Co. Ltd (KISC) signed an engineering-procurement contract (EPC) worth 160 million USD on Oct. 22, starting the Lao Cai cast iron and steel project.
In the first phase during 2010-2012, the 337 million USD project plant will build a cast iron workshop able to churn out 500,000 tonnes of cast iron a year.
During the period, a refined steel workshop with an annual capacity of 500,000 tonnes of steel ingot will also be built as part of the plant in Bao Thang district, the northern mountainous province of Lao Cai.
In the second phase (2012-2015), a steel-rolling chain, with a capacity of 500,000 tonnes of steel per year, will be installed. The capacity will be raised to 1 million tonnes later.
The plant will use iron ores tapped from the local Quy Xa mine, Vietnam’s second largest iron ore, which has reserve of 122 million tonnes.
Once operational, the project is expected to double Lao Cai’s GDP and create jobs for 2,000 local workers, said the provincial People’s Committee Chairman Nguyen Van Vinh./.
In the first phase during 2010-2012, the 337 million USD project plant will build a cast iron workshop able to churn out 500,000 tonnes of cast iron a year.
During the period, a refined steel workshop with an annual capacity of 500,000 tonnes of steel ingot will also be built as part of the plant in Bao Thang district, the northern mountainous province of Lao Cai.
In the second phase (2012-2015), a steel-rolling chain, with a capacity of 500,000 tonnes of steel per year, will be installed. The capacity will be raised to 1 million tonnes later.
The plant will use iron ores tapped from the local Quy Xa mine, Vietnam’s second largest iron ore, which has reserve of 122 million tonnes.
Once operational, the project is expected to double Lao Cai’s GDP and create jobs for 2,000 local workers, said the provincial People’s Committee Chairman Nguyen Van Vinh./.
