First private ingot plant of Vietnam comes on stream

First private ingot plant of Vietnam comes on stream

According to recent news in the market, Vietnam's first private steel ingot plant, namely Hoa Phat, will come on stream in Pho Noi industrial zone in northern Hong Yen province on Saturday, i.e July 10. The plant, which is built upon Chinese technology, will have an annual production capacity of 200'000 tons. Cost of plant is approximately VND (Vietnam Dong) 200 billion ($12.7 million). Through this plant, Vietnam's dependence on imported steel ingot is expected to decrease.