22
Sep
10:28
JFE buys stake in Formosa Ha Tinh project
Japan’s JFE Steel has finalised a contract to buy 5% of Vietnamese steelworks project Formosa Ha Tinh. The first steelmaking at the plant is due by the end of the year, Kallanish notes.
JFE will pay $225 million for its stake. After the deal is complete Taiwan’s Formosa Plastics Group will own 70% of the plant while China Steel Corporation will own 25%.
The site will operate 7 million tonnes/year of steelmaking, with the possibility of expansion t…
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Anonymous
Very good overview of the weekly steel market.
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