On November 8, the first phase of Sujia Steel Pipe (Vietnam) Co., Ltd, the largest overseas investment project of Wuxi, Jiangsu-based Chinese steelmaker Jiangsu Sujia Group Co., Ltd (Sujia Group), was officially commissioned.
In October 2009, Sujia Group established Sujia Steel Pipe (Vietnam) Co., Ltd in Ho Chi Minh City, Vietnam, in order to implement its strategy of overseas expansion. The investment in the overall project is $9.8 million, and the site in question covers 19,200 acres.
The first phase of the project will produce 100,000 mt per year of longitudinally welded tubes. Upon completion of the whole project, sales revenues will amount to $40 million annually.