100,000 tonne/year steel pipe mill starts operation

SeAH Vietnam Steel Ltd Co (SeAH Steel) on March 12 put the 8 inch steel pipe manufacturing mill with a capacity of 100,000 tonnes a year into operation in Bien Hoa 2 industrial zone in the southern province of Dong Nai.

With investing extra US$13 million to import steel pipe manufacturing line from Korea, SeAH Steel increased the mill’s total capacity to 170,000 tonnes of steel pipe a year. 50% of the mill’s products will be exported to the US market and the remaining part will be exported to Singapore, Australia, Taiwan and Hong Kong and sold in the domestic market.

According to Hyung Kun Nam, SeAH Steel’s general director, his company plans to invest another 24 inch steel pipe manufacturing line in the coming time.

In 2008, SeAH Steel made revenue of US$54.3 million and the figure is expected at US$70 million in 2009.

Nguyen Tien Nghi, vice chair of Vietnam Steel Association (VSA), said that at present, Vietnam has three 8 inch steel pipe manufacturers including Hoa Phat Steel Co, Vietnam-Germany Steel Co and SeAH Steel.

 

Category: Business