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As per the plan, the plant will require an investment capital of VND 2.2 trillion (USD 97 million) and have the capacity of 800,000 tons per year.
The factory will produce galvanized steel sheets, galvanized aluminum sheets, zinc-coated aluminum-coated sheets, zinc-coated sheets, steel pipes, steel boxes, sections and products from steel coil, cold-rolled steel, galvanized steel, black steel tape and galvanized steel tape.
Nam Kim Steel JSC’s board of directors (BOD) has authorized Ho Minh Quang, Chairman of the Board of Directors, to determine a location in the Southern province for the project, based on the scale of production and business activities, and to sign land lease contracts and contracts related to infrastructure investment.
In the first six months of 2017, Nam Kim Steel posted an output of 380,000 tons, a year-on-year increase of 7 percent. Specifically, its output of iron and steel products went up by 21 percent compared to the same period last year.
The firm’s turnover touched VND 5.5 trillion, up 38 percent, while its after-tax profit was VND 350 billion, up 14 percent year on year and accounting for 58.3 percent of its target for the entire year.