Vietnamese steelmaker Hoa Phat to build $2.7 billion complex –

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HANOI (Reuters) – Vietnamese steel firm Hoa Phat Group received approval on Monday to build a steel complex worth 60 trillion dong ($2.7 billion), the company said in an online statement.
The complex in the central province of Quang Ngai is expected to take four years to build and to produce 4 million tonnes of steel products a year, it said.
Hoa Phat took over the project from Guang Lian Steel Vietnam, which has delayed the project for 10 years, the statement said.
Reporting by Mai Nguyen; editing by Jason Neely
Our Standards: The Thomson Reuters Trust Principles.
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