A Chinese-invested cast iron and steel plant was inaugurated in the northern mountainous province of Tuyen Quang on January 13.

It is expected to produce 200,000 tonnes of cast iron per year in its first phase.

Covering an area of 20 hectares in Long Binh An industrial zone, the plant was built at a cost of 50 million USD (for the first phase) by a joint venture between Vietnam and China .

The company will expand the production of steel in the second phase.

The plant is expected to contribute 1.5 trillion VND (70.5 million USD) to the province’s industrial production value and more than 100 billion VND to the State budget every year.

It is expected to create jobs for nearly 700 local labourers.

Standing Vice Chairman of the provincial People’s Committee Pham Minh Huan said that since the plant’s construction, the province has created all favourable conditions for the company in land clearance and material area planning.

Huan also asked the business to strictly follow regulations on production and environmental protection.-VNA