23
Jul
01:00
Formosa compensated for Vietnam riot damage
Taiwan’s Formosa Plastics Corporation has received 50.35 billion Dong ($2.38 million) in compensation for rioting on the site of its Vietnamese steelworks project. The riots caused further delay to the 10.5 million tonne/year plant, Kallanish notes.
The company had hoped that the first 2.5m t/y blast furnace would be commissioned by end-May 2015 but after the riots it said commissioning should be complete by August at the latest. The full 10.5m t/y cap…
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