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Work starts on VND1.6 trillion steel alloy plant in Quang Tri

by NDO25 December 2019 Last updated at 20:00 PM

At the groundbreaking ceremony for the plant. (Photo: VNA)
At the groundbreaking ceremony for the plant. (Photo: VNA)

VTV.vn - Tan Viet Quang Company Limited began construction of a plant set to produce stainless steel and steel alloy in Que Hai commune, Hai Lang district in the central province of Quang Tri on December 25.

The project was approved by the People’s Committee of Quang Tri province on January 30, 2019 and will cover nearly 312,000m2 in Hai Ba and Hai Que communes in Hai Lang district.

The plant will have a capacity to produce 240,000 tonnes per year and a total investment capital of VND1.6 trillion (US$69.21 million)

Director of Tan Viet Quang Company Limited Nguyen Ba Dung said that the plant is equipped with up to date modern technologies and devices and is assured to protect the environment.

Upon its operation, the plant is expected to create direct jobs for 450 workers and indirect jobs for 300 others, Dung noted.

According to Vice Chairman of Quang Tri provincial People’s Committee Nguyen Quan Chinh, the plant is anticipated to achieve a revenue of VND3.6 trillion per year (US$155.7 million) and contribute VND100 billion (US$4.32 million) to the State budget per year.

The construction of the project is scheduled for completion in 14 months.

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