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Friday, July 12, 2024

Binh Dinh approves VND53.5-trillion steel project

The Saigon Times

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HCMC – Long Son Phu My Iron and Steel JSC has got the green light from Binh Dinh Province to develop an iron and steel complex at a total cost of some VND53.5 trillion.

According to the Binh Dinh Investment Promotion Center, the Long Son Iron and Steel Production Complex project would cover over 468 hectares in Hoai My Commune, Hoai Nhon Town. Once completed, the facility would churn out 5.4 million tons of steel products annually.

The project developer is also mulling over a plan to build the Hoai Nhon port project, covering around 496 hectares in Hoai Nhon and requiring roughly VND10 trillion. It would be built as a specialized port in connection with the operations of the Long Son Iron and Steel Production Complex project.

The provincial government asked the relevant agencies to formulate preferential policies for local households that would be affected by the development of the iron and steel complex. These policies should create favorable conditions in terms of employment and social welfare for them.

Both projects are expected to push up the growth of the industrial and seaport sectors and contribute to the socioeconomic development in the province and neighboring regions.

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