The plant, which is expected to be put into operation in June 2008, will have an annual production capacity of 200,000 tons of steel made according to international standards, and will be equipped with the most advanced technological machinery from China, Japan and Europe.
Instead of using coking coal, the plant in question will be the first steel ingot plant in Vietnam to use anthracite coal which is eco-friendly and helps reducing production costs.
MIREX plans to further modernize the plant to produce laminated steel as well as high quality steel in the forthcoming years.
The Cao Bang project is foreseen to create job opportunities for the local people and to make a contribution of $625,000 per annum to the local budget.