Construction has commenced on a Chinese-Vietnamese steel mill joint venture (JV) in the northeastern Vietnamese province of Lao Cai, according to a report in Vietnam Economic Times on April 19.
The $337 million mill is expected to become the second largest steel mill in Vietnam with an annual output of one million mt upon completion. The first phase is expected to be completed in 2012 with an annual output capacity of 500,000 mt of billets, while construction of the second phase involving an annual capacity of 500,000 mt of rolled steel will take place from 2012 to 2015. The iron ore used by the mill will be supplied by the Quy Sa mine, also located in the province of Lao Cai.