PEB Steel Buildings opened a new plant at Bong Xuyen Industrial Park in southern Vung Tau City yesterday.
The $4 million facility – PEB Steel’s fifth factory in Asia – will boost the company’s yearly production capacity in Vietnam by 18,000 tonnes of steel, bringing its total Asian capacity to more than 120,000 tonnes per year.
The new plant is equipped to produce both pre-engineered building structures and heavy structures, including those that are hot-rolled, for power and industrial plants, oil and gas facilities, and multi-storey and high-rise buildings. The factory will employ 150 workers.
PEB Steel, which has been in Vietnam for 15 years, specialises in the design, fabrication and erection of pre-engineered steel buildings for factories, warehouses, showrooms, commercial and trade centres, supermarkets, sport stadiums, exhibition halls and aircraft hangars.
The new plant upgrades the company’s technology from pre-engineered building fabrication to industrial-sector fabrication.
The Consul general of Canada in HCM City, Audri Mukhopadhyay, said that PEB was one reason making two-way trade between Canada and Vietnam rise 425 percent between 1998 and 2008.
In 2008 alone, trade between the countries reached an all time high of C$1.3 billion ($1.24 billion). Canada’s registered capital in Vietnam grew to $4.2 billion in 2008, making it the fifth largest investor in the country last year.
“We are proud of Canadian entrepreneurs like Sami Kteily and his brother Adib”, Mukhopadhyay said. “They made a commitment to Vietnam, long before many others, recognising the enormous potential of this market.”
In addition to Vi9t Nam, PEB Steel has fabrication facilities in India and Bangladesh, and regional offices in Thailand, Myanmar and Cambodia