Vietnam’s Binh Dinh Province has approved Long Son Phu My Iron & Steel Company’s steel complex project, according to local media reports.
The company plans to invest VND 53.5 trillion ($2.14 billion) in the project, which will have an overall annual capacity of 5.4 million mt of high-quality steel products, construction steel, and rolled steel.
The investment project is divided into three phases. The first phase of the project will be completed in 2024.
The construction of the steel complex will create 5,000 jobs, and about 7,500 jobs once operational.