The Lao Cai iron and steel factory in the northern mountainousprovince of Lao Cai produced its first batch of cast iron on May 26.
According to Nguyen Van Toan, Director General ofthe Vietnam-China Mineral Resources and Metallurgy Company, theproject’s investor, the factory can produce 12-13 batches of cast ironevery day, with a total output of 1,500 tonnes.
Applying the latest technology, the factory is the second largest of itskind in Vietnam after the Thai Nguyen iron and steel factory.
In its first phase, the factory has a design capacity of 500,000tonnes per year, which will be doubled in the second phase. It isexpected to contribute about 700 billion VND (32.9 million USD) to thestate budget every year.
The project uses Quy Xamine as its main material source, which has a reserve of 120 milliontonnes. The first batch of steel ingot is expected to be produced inJune.
Construction of the Lao Cai iron and steelfactory, which is partnered by Vietnam Steel Cooperation and ChineseKungang steel and iron company, commenced in 2011 with a totalinvestment of 337 million USD.-VNA