Nippon Steel & Sumitomo Metal Corporation and China Steel Corporation reached agreement, in August 2008, to establish China Steel Sumikin Vietnam Joint Stock Company (“CSVC”) for the manufacture and sale of cold-rolled steel sheet, hot-dip galvanized steel sheet, electrical steel sheet and other flat-rolled products, and have been subsequently pushing the construction and startup of the steel sheet mill. CSVC will start its commercial operation in November of this year.
Prior to this, on October 14, CSVC held an opening ceremony at the mill site, in the presence of the Deputy Minister of the Natural Resource & Environment Bureau of the Vietnamese government, the Deputy Director-General of the Industry & Trade Bureau of the Vietnamese government, the Chairman of the People’s Committee of Ba Ria-Vung Tau Province, the Deputy Secretary of Provincial Party Committee of Ba Ria-Vung Tau Province and other high government officials as well as the Japanese Consul General and other some 700 invited guests from Vietnam, Taiwan, Japan and others.
This sheet mill, representing an investment of about US$1,150 million, is intended to be a production base of steel sheets, including those for automotive.
The ASEAN region is perceived by us as an important base from which to put into action the “global strategy” constituting a central pillar of our company’s medium-term business plan. Vietnam, axially located in the region, is a very promising market having a potential for further economic growth. We and China Steel, through CSVC, are going to respond to sheet demand in the ASEAN region with speed and trustworthiness.
Outline of CSVC
|-Company name:||China Steel Sumikin Vietnam Joint Stock Company|
|-Location:|| My Xuan A2 Industrial Zone, Ba Ria-Vung Tau Province,
Socialist Republic of Vietnam (about 65km to the South-west of
Ho Chi Minh City)
|-Chairman:|| Wong, Chao-Tung (Toru Kaneko to be sent as Vice-President from our
|-Business:|| Manufacture and sale of pickled and oiled steel sheet,
cold-rolled steel sheet, hot-dip galvanized steel sheet,
and electrical steel sheet
|-Equity ratio:|| Nippon Steel & Sumitomo Metal Corporation 30%, China Steel 51%,
Sumitomo Corporation 5%, Nippon Steel &
Sumikin Bussan Corporation 5%, others 9%
|-Main equipment:|| Pickling Line & Tandem Cold Mill (PLTCM),
Continuous Annealing Line (CAL), Continuous Annealing
Galvanizing Line (CGL), and Annealing and Coating Line (ACL)
|-Capacity:||1.2 million tons/year|
|-Investment:||about US$1,150 million|
|-Start of operation:||November 2013|
|-Employees:||about 800 (finally, about 900)|
Photos showing the opening ceremony