Japan steelmaker gets green light for huge steel complex By Quoc Hung – The Saigon Times Daily HCMC – JFE Steel Corporation, the second largest steel maker in Japan after Nippon Steel, has seen the green light for its project worth some US$10 billion to build a huge steel complex in Dung Quat Economic Zone in Quang Ngai Province, said a source from the zone. The director of Dung Quat Economic Zone Authority’s Investment Promotion Center told the Daily yesterday the province had sent the investor’s investment plan to the Government and the Ministry of Planning and Investment for consideration. JFE Steel made the investment proposal to make steel products to serve the automobile, shipbuilding and mechanical industries after spending more than a year studying the province’s investment environment, according to the center. If the project gets the final approval from the Government, it will rival another US$3.3-billion steel complex in the same zone, to be built by two steel groups from Taiwan, Tycoons and E-United. JFE Steel Corporation in its plan says it will set up a new company in Vietnam to develop the project on 1,000 hectares in the zone. It will also build a port for importing…
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