China Steel completed the construction of the plant in Vietnam

The opening ceremony of the cold -rolled production line of the joint venture of the China Steel Sumikin Vietnam Joint Stock Co (CSVC) took place. The annual volume of steel production on CSVC will be 1.2 million tons.

CSVC is a joint venture created by the Chinese Steel Corporation and its Japanese partner Sumitomo Metal Industries. Thus, China Steel expands its market in Vietnam and other countries of Southeast Asia, said the vice president of the company Steve Lee. He also added that in Vietnam with a population of 91 million people on average, consumption of the population became less than 100 kg per capita, which is lower than 200 kg - the average global level.

During its trial launch last month, 10 thousand tons of steel were produced at the plant. The plant, as expected, will begin to operate at full capacity in 2015, after the commissioning of the new ktp and when all four production lines can produce 500 thousand tons of cold-rolled sheets and rolls, 300 thousand tons of galvanized sheet, 200 thousand tons of electrical engineering. sheet steel and 200 thousand tons of oiled roll steel per year.

The China Steel Vietnamese division will supply products for construction and automobile industries, as well as for the manufacture of household appliances. The plant will compete with another factory for the production of cold -rolled sheets and rolls built by Posco and located in the same area as CSVC.

China Steel owns 51 percent of the Vietnamese enterprise. It is expected that the plant will bring income from $ 24 billion, and since 2015 - $ 30 billion a year.