South Korean steel giant POSCO Co Ltd has announced plans to build a stainless steel plant in Vietnam, adding that the details of the project have yet to be decided.
Commenting on the plans, a POSCO spokesperson stated, "We've just started a feasibility study to build a cold-rolled stainless steel plant in Vietnam. This is a very early stage and we have not decided any details such as the volume of the plant."
As previously reported by SteelOrbis, last year POSCO announced plans to build hot rolled and cold rolled steel plants in Vietnam by 2012. POSCO aims to play an active role in the Southeast Asian market through these investments.