Sumitomo Metal Industries, Ltd and China Steel Corporation had jointly requested to the Government of Vietnam approval for investment in an advanced steel sheet project in the spring of 2008. On May 12th 2009 an investment certificate was obtained.
CSVC will produce a full lineup of high-grade steel sheet products including for automobiles. Annual production of 1.6 million tonne is planned in view of anticipated demand from customers in Vietnam and nearby countries. Despite the current difficult economic conditions, Sumitomo Metals and China Steel will proceed as planned.
1. Company Name: China Steel Sumikin Vietnam Joint Stock Company
2. Establishment: May 2009
3. Location: My Xuan A2 Industrial Zone, Ba Ria Vung Tau Province, The Socialist Republic of Vietnam
4. Capacity: 1.6 million MT per year
5. Equipment: Heavy-gauge shearing line, pickling line, tandem cold rolling mill, continuous galvanizing line, annealing and coating line, and auxiliary lines
6. Total investment: Approximately 1.15 billion U.S. dollars
7. Capital participants:
China Steel Corporation - 51%
Sumitomo Metals - 30%
Sumitomo Corporation - 5%
Others - 14%
