Essar looking into Vietnam's steel sector

Friday, 29 September 2006 14:28:25 (GMT+3)   |  
       

The Indian Essar Global has confirmed to SteelObris that it is currently studying the feasibility of establishing a 2 million metric ton per year hot-strip mill in Vietnam. The company is reported to be in talks with Vietnam Steel Cooperation and a few other investors. The slab required for rolling may be imported from other countries including India. Since there exists a strong domestic market for flat steel products in Vietnam, marketing the product locally will not pose a problem. The project cost could not be ascertained as the detailed project report is yet to be completed. Commenting on the issue, Essar officials stated, “We are looking for growth opportunities in our existing activities, both domestically and internationally”.

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