Article: Vietnam: Formosa Plastics sets up steel mill in Vietnam.

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 ...

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