JP Steel Plantech to Provide Services for Taiwanese-Japanese Steel Mill in Vietnam

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Researched by Industrial Info Resources (Sugar Land, Texas)--In July, JP Steel Plantech Company (Yokohama, Japan) was selected as the engineering company for a massive Taiwanese-Japanese steel mill in Vietnam. China Steel Sumikin Vietnam Joint Stock Company (CSSV) (Ho Chi Minh, Vietnam), a joint venture between China Steel Corporation (TWSE:2002) (CSC) (Kaohsiung, Taiwan) and Sumitomo Metal Industries Limited (TYO:5405) (SMI) (Osaka, Japan), was formally established in August 2008 to meet the demand for high-quality steel products in mainland Asia. CSC holds a 51% stake in the venture and SMI holds a 30% stake, while Sumitomo Corporation (TYO:8053) (Tokyo, Japan) holds a 5% stake in the venture. The remaining stakes are taken up by other investors.

CSSV's grassroot steel sheet mill, which is scheduled to undergo construction later in the year, is to be in the Xuan A2 Industrial Zone, approximately 1,100 kilometers south of Hanoi, in the My Xuan Commune of the Ba Ria Vung Tau province. JP Steel Plantech was selected for its cost-effective, state-of-the-art technologies in engineering and design and is contracted to provide these services for a pickling line and tandem cold rolling mill, as well as an annealing and coating line. The steel mill facilities also will house a heavy-gage shearing line and a continuous galvanizing line. When completed in 2012, CSSV's US$1.15 billion steel mill will produce and 1.6 million metric tons of steel products per year. These products, including automobile-grade steel, will include hot-cut sheets, cold-rolled coil, electromagnetic steel sheets, and hot-dip galvanized steel sheets.

The CSSV venture is CSC's and SMI's largest collaboration. The joint venture company requested approval from the government of Vietnam for a state-of-the-art steel facility early in 2008 and received an investment certificate early in May 2009 after the formal announcement of CSSV.

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