Vietnam-China Mineral and Metallurgy Co., Ltd (VTM) and Kunming Iron andSteel Group Co. Ltd (KISC) signed an engineering-procurement contract(EPC) worth 160 million USD on Oct. 22, starting the Lao Cai cast ironand steel project.
In the first phase during 2010-2012, the337 million USD project plant will build a cast iron workshop able tochurn out 500,000 tonnes of cast iron a year.
Duringthe period, a refined steel workshop with an annual capacity of 500,000tonnes of steel ingot will also be built as part of the plant in BaoThang district, the northern mountainous province of Lao Cai.
Inthe second phase (2012-2015), a steel-rolling chain, with a capacity of500,000 tonnes of steel per year, will be installed. The capacity willbe raised to 1 million tonnes later.
The plant will use ironores tapped from the local Quy Xa mine, Vietnam’s second largest ironore, which has reserve of 122 million tonnes.
Onceoperational, the project is expected to double Lao Cai’s GDP and createjobs for 2,000 local workers, said the provincial People’s CommitteeChairman Nguyen Van Vinh./.
In the first phase during 2010-2012, the337 million USD project plant will build a cast iron workshop able tochurn out 500,000 tonnes of cast iron a year.
Duringthe period, a refined steel workshop with an annual capacity of 500,000tonnes of steel ingot will also be built as part of the plant in BaoThang district, the northern mountainous province of Lao Cai.
Inthe second phase (2012-2015), a steel-rolling chain, with a capacity of500,000 tonnes of steel per year, will be installed. The capacity willbe raised to 1 million tonnes later.
The plant will use ironores tapped from the local Quy Xa mine, Vietnam’s second largest ironore, which has reserve of 122 million tonnes.
Onceoperational, the project is expected to double Lao Cai’s GDP and createjobs for 2,000 local workers, said the provincial People’s CommitteeChairman Nguyen Van Vinh./.
