Taiwanese Formosa Plastic Group (FPG) has held a groundbreaking ceremony for its new integrated steel mill in Vung Ang Economic Zone, in Ha-Tinh Province, Vietnam.
As SteelOrbis previously reported, Formosa plans to invest about $8 billion in the two-phase construction of the new mill, which will become the world's sixth largest steel mill upon completion.
Phase one will involve the construction of a blast furnace with an annual production capacity of 7.5 million mt and also of two semi-finished product mills. The latter will include a continuous slab caster with an annual production capacity of 2.25 million mt and a continuous billet caster with an annual production capacity of 1.5 million metric tons. Phase one will also include the construction of a HRC rolling mill with an annual capacity of 3.75 million mt. During the second phase, another blast furnace with an annual capacity of 7.5 million mt will be installed.
The production at the mill is expected to start by 2011.