Vietnamese sources have reported that Australia-based Vietnam Industrial Investments Ltd, an investment company which was created with the purpose of investing in the emerging Vietnamese market, has won a license to construct a new ingot mill in the country's northern port city of Hai Phong.
The new $70 million-worth mill will have an annual production capacity of 500,000 metric tons of ingots, which will be supplied to two other steel plants located nearby.
Vietnam Industrial Investments Ltd plans to complete the construction of the mill in the next 24 months.