Vietnam Steel Plant of Formosa Plastics to Put into Production in 2014 Ahead of Schedule

With an investing value of NTD25.6 billion by Formosa Plastics Corp. and a smooth construction work of sand pumping reclamation, the Vietnam steel plant of Formosa Plastics expects to enable its first phase construction by the end of 2013, and to put into production at least no later than the end of 2014. The management level of Formosa Plastics says after the launch of the first phase construction in 2013, its steel output will reach 7.5 million metric tons to become the largest steel plant in the ASEAN targeting the markets of Taiwan, Southeast Asia and China.

The market insiders considers the reason Formosa Plastics increases its investment in the Vietnam steel plant is that it has seen Vietnam enjoys an advantageous tax policy and nice investing surroundings. After the expansion of the steel output, the company will further sell the steel products to the ASEAN countries through Son Duong Port of Ha Tinh Province.