Japanese investor planning $5 billion steel project in Vietnam

The government has given Japan’s JFE Group permission to make a pre-feasibility research report on a steel complex in Dung Quat Economic Zone in the central province of Quang Ngai.

The report will be submitted to related ministries and agencies for consideration. The Prime Minister will make the final decision on the project.

JFE Steel Group official Akihiko Ishida said the investor wants to build a plant that can produce 6-10 million tonnes of steel per year, at a cost of around $5 billion.

All gas yielded during the production process would be collected to produce electricity to run the plant and to sell to other businesses in the Dung Quat Economic Zone and local people.

At the Vietnamese government’s request, JFE’s report must clearly show its goals, investment scale, duration and construction pace, range of products, market, equipment and technology, and others.
Source: chinhphu.vn