JFE Steel announced on 27th that the company has signed a memorandum of understanding with the Taiwanese E United Group engaged in steel production and so on to make a feasibility study (F/S) to build an integrated steel mill in Vietnam as a major shareholder.|
E United Group has already established its subsidiary Guang Lian Steel (Vietnam) Co., Ltd., and has got an investment license for construction of such mill from the Vietnam government.
The companies are to conduct the F/S to build an integrated steel mill with production capacity of crude steel of 3.5 million tons a year in Quang Ngai Province near Da-nang as the first stage. Its operation is scheduled to start in 2016. Such a new company is to produce mainly steel sheets of which details will be decided during the F/S.