Formosa Plastics Group's Vietnam Plant will go into production in 2015

2012-12-06

Formosa Plastics Group's (FPG) Vietnam steel plant in Hà Tĩn held a ceremony for plant initiation and 1st blast furnace pliework on December 2nd. Nguyễn Tấn Dũng, general manager of the Vietnam plant,  pushed the initiation button for the ceremony with FPG's president Wang Wen-yuang. This indicates high support from Vienam government. Wang says that in the preliminary stage of plant construction, approximately 10,000 employees were expected to participate in the plant constrction with the aim to make central Vietnam an industrial core in the future.  Lin Hsin-yi, chairman of the Vietnam plant, states that the 1st blast furnace is expected to start operation in May, 2015, the 2nd in May, 2016, and the 3rd in May, 2017. Furthermore, as high as 13 billion USD is invested in those three blast furnace, with an annual capacity forecast of 10.5 million tons, almost the same scale of China Sttel's. After official production starts, annual revenue forecast is likely to break 200 billion USD, making the steel plant the largest in Southeast Asia.