Vietnam Steel Corp (VSC) said it had initiated 157 investment projects and spent some 6.6 trillion dong in the last decade in an effort to lift productivity and capacity of its existing mills.
The biggest project under this programme is to expand the Thai Nguyen Iron and Steel Co or Tisco in phase I which is to increase production capacity to 24,000 tonnes of steel billet a year and needs 695 billion dong of investment capital. The project was completed and commissioned in 2003.
This year two other projects are schedule to start operation. the Phu My Steel Laminated Steel Mill with designed capacity of 205,000 tonnes a year and investment of nearly 1.88 trillion dong and the Phu My Steel Plant which will produce 40,000 tonnes of steel and 50,000 tonnes of steel billet a year needing an investment up to 2.377 trillion dong.
VSC has also upgraded production capacity of other plants such as the Nha Be Steel, Thu Duc Steel, Bien Hoa Steel under its subsidiary the Southern Steel Corp and upgraded the Nguom Chang iron ore mine and electric blast furnace of the Da Nang Steel Co.