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Article: Vietnam: Formosa Plastics sets up steel mill in Vietnam.
- Article from:
- TendersInfo
- Article date:
- August 1, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Formosa Plastics Group, Taiwan s largest petrochemical manufacturing conglomerate, has begun construction of a steel mill in Vietnam that represents the group s biggest single overseas investment. FPG held a groundbreaking ceremony for the Son Duong Iron Steel and Port Complex recently in Ha Tinh, 340 kilometers south of the Vietnamese capital, Hanoi.
Formosa Heavy Industry Corp., one of the group s subsidiaries, and Cayman Island-registered Sun Steel Corp. (Sunsco) will operate the complex. FPG holds a 95-percent share in the project, while Sunsco holds 5 percent, an FPG spokesman said.
At the ceremony, FPG Chairman Wang ...