Taiwan’s Formosa Heavy Industries will build a deep-water port and a steel complex at a total cost of US$1.2 billion in the central province of Ha Tinh.
Taiwan’s Formosa Heavy Industries will build a deep-water port and a steel complex at a total cost of US$1.2 billion in the central province of Ha Tinh.
Deputy Transport Minister Tran Doan Tho met top executives of Formosa last week over plans for the Son Duong port and steel complex. The port will be able to receive vessels of up to 200,000DWT, while the steel complex will be designed with a production capacity of 15 million tons per year. Both projects will be located in the Vung Ang Economic Zone. Formosa will conduct feasibility studies for the projects soon.
Late last year, Formosa’s senior executives and experts visited Ha Tinh to explore opportunities to invest in their seaport and steel industries. A team of Formosa experts visited the Vung Ang Economic Zone and worked with province experts and relevant ministries to collect information and undertake surveys for drawing up feasibility studies for the two projects.
Located 400 kilometers south of Hanoi, Ha Tinh Province currently has one port and two wharves which can receive ships of 1,000DWT and 46,000DWT. The province is estimated to have up to 540 million metric tons of iron ore.
(Source: SGT)
