A new cold rolling mill to be built in Vietnam

A new cold rolling mill to be built in Vietnam

According to recent market news, a new cold rolling mill will be built in the Song Than 2 Industrial Park of southern Binh Duong province of Vietnam. An investment worth $28 million will be made for the project. The Official Development Assistance (ODA) from India will meet $8 million and Vietnam's Development Assistance Fund will meet $5.4 million of the total investment. The remaining part of the investment will be met by Hoa Sen (Lotus) Joint Stock Company's own sources. When the mill becomes operational, it will produce 120'000 tons of cold rolled steel products per annum. This production figure will make the mill the second largest plant in Vietnam. Moreover, the mill will reduce Vietnam's dependence on imported cold rolled steel products. Hoa Sen (Lotus) Joint Stock Company, which was built three years ago was initially a distributor of steel sheets but now produces galvanized and pre-painted galvanized steel.