Taipei Times reported that Taiwan’s biggest steelmaker China Steel Corporation will assist Formosa Plastics Group in building a steel mill in Vietnam.

Chinese language Economic Daily News, citing people close to the situation, reported that the two sides are expected to talk on the collaboration tomorrow, when top FPG executives pay a visit to Kaohsiung based CSC.

As per report, FPG representatives will be led by Mr William Wong group’s CEO, who is also chairman of Formosa Chemicals & Fiber Corp.

It has been more than two years since FPG first announced its plan to invest in building a steel plant in Vietnam. The newspaper report said the group planned to invest an estimated USD 8 billion to build a plant with an annual capacity of 30 million tonnes. To save on construction costs, the group has reportedly assigned the construction work to its subsidiary, Formosa Heavy Industries, based on a blueprint by China’s Chongqing Iron & Steel Design Institute.

(Sourced from www.taipeitimes.com)