South
Korea's POSCO will invest $361 million to build a steel plant in Vietnam with a
production capacity of 700,000 metric tons of cold rolled steel products.
The company plans to complete the
construction of the plant at Vung Tau, near Ho Chi Minh City, by the end of 2009.
POSCO is also planning to build a 3 million-ton hot rolled steel plant in Vietnam after 2009.