Chinese firm invests in the construction of a metallurgical plant in Vietnam

Chinese steel company Mintal Group Co. Ltd has expressed a desire to build a $ 2 billion Ferocrom stainless steel and non-ferrous metals plant in the Ngi Son economic zone in central Thanh Hoa province.

This issue was discussed at a recent meeting of representatives of the Mintal group and the Provincial People's Committee (CPR).

In particular, the group will invest in a Ferocrom plant with a capacity of 1.5 million tons per year in the first stage and a stainless steel plant with a capacity of 1 million tons of steel and 1 million tons of non-ferrous metals per year in the first stage. second phase.

It is estimated that 80 percent of the raw materials for production will be imported from South Africa, while the remaining 20 percent is expected to be sourced from Vietnam.

If the investment plan is approved, the Mintal Group will lease 300 hectares of land in the Ngi San Economic Zone, near the port area, for the construction of the plant.

Speaking at the meeting, Chairman of the Thanh Hoa People's Committee Nguyen Xing Hng demanded that the board, regional departments and agencies Ngi Son instruct the Mintal Group to conduct a site survey and quickly complete the relevant documents and procedures in order to get an investment policy decision soon. by the Provincial People's Committee in late September or early October, when Thanh Hoa Province held the 2019 Investment Promotion Conference.

However, Xứng noted that by investing in this plant, Mintal Group must commit to Thanh Hoa Province to invest and apply the most advanced and modern technologies to minimize environmental impact and comply with Vietnamese environmental laws.

At the meeting, the Mintal Group and the board of the Nghi Sơn economic zone and industrial zones also signed a Memorandum of Understanding (MoU) to invest in Ferocrom, a stainless steel and non-ferrous metals plant.

The Mintal Group is one of the world's leading corporations for the production of stainless steel and non-ferrous metals. The group currently has one plant located in China, with a second planned to be built in the Ngi Son economic zone.