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| NSC To Study Participation In Posco's Vietnamese CR Mill Project |
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Nippon Steel Corp (NSC) is contemplating studying whether to take part in what South Korea's Posco is promoting as its CR mill project in southern Vietnam, according to a joint announcement by the two major integrated steelmakers in East Asia. NSC and Posco are supposed to conduct a joint study on definite terms of the former's participation in the latter's Vietnamese CR mill project under POSCO-Vietnam Co Ltd, a wholly owned subsidiary of Posco. The joint study will be made, assuming that NSC takes an interest of 10-20% in POSCO-Vietnam. Necessary investments in the CR mill project are estimated at a total of US$528 million. POSCO-Vietnam plans to build and operate facilities in the selected property 80 km southeast of Ho Chi Minh City. Construction of the facilities is under way toward an operation start-up in September 2009. Planned production volumes are 1,200,000 tpy for CR sheets of 0.15-1.6mm thick and 700-1,570mm wide, and 700,000 tpy for continuously annealed sheets of 0.35-1.6mm thick and 700-1,570mm wide. NSC and Posco have promoted mutual cooperation in various sectors since both companies concluded a strategic alliance contract in August 2000 including cross-shareholdings between them. |
| last modified : Tue 04 Nov, 2008 [11:02] |
