Japan`s JFE Steel eyes 5 billion USD project

Quang Ngai (VNA)- Details of a 5 billion USD steel complex capable of
producing 6-10 million tonnes a year were put into discussion between the
central province of Quang Ngai and the JFE Steel group of Japan on
September 30.

The complex will be built close to the central coast within the expanded
Dung Quat Economic Zone. Head of the JEF Steel group's Planning and
Cooperation Department Akihiko Ishida said the project will apply advanced
technology consuming energy economically and friendly to the environment.

Gas produced as by-product during the steel making process will be
collected to generate energy, he added.

Part of the gas production output will help feed the steel factory and the
rest be sold to other enterprises in the Dung Quat economic zone and locals
as well.

The complex is scheduled to employ between 2,000 and 3,000 workhands with
two-thirds being engineers and skilled workers.

Provincial People's Committee Chairman Nguyen Xuan Hue discussed with the
Japanese investor on detailed requirements related to traffic, water supply
and electricity systems as well as human resource development so that the
province may give a helping hand.

The two sides reached consensus on several other issues in the feasibility
study to be submitted to the Government for consideration.