Mintal Group Co., Ltd, a Chinese-owned company, has been discussing plans with the Provincial People’s Committee (PPC) to build a USD 2 billion ferrochrome, stainless steel and non-ferrous metal factory in Nghi Son economic zone in Thanh Hoa province. Mintal Group and the management board of Nghi Son economic zone has already signed a memorandum of understanding (MoU).
In the first phase, a ferrochrome factory will be set up with 1.5 million tons of capacity per year, while a stainless steel factory producing 1 million tons of steel and 1 million tons of non-ferrous metal annually will be set up in the second phase. Around 80% of raw material for production will be imported from South Africa while the remaining 20% is purchased within Vietnam.
Nghi Son economic zone’s management board, provincial departments and agencies are instructing Mintal Group to survey the location (300 ha of land) and complete procedures in order to receive permission from the Provincial People’s Committee at the end of September or the beginning of October. The Mintal Group must also commit on using modern technology to minimize impact on the Environment, complying with Vietnamese laws on Environmental protection.
(Source: Vietnam News)