Cast iron production kicks off in Tuyen Quang, Vietnam

As foreign investment continues to roll into Vietnam’s metal and steel industry, the country is starting to finally see the benefits of this investment, with more and more facilities being opened and starting production. In mid January earlier this year the Hang Nguyen Minerals Joint Venture officially opened the first phase of their Tuyen Quang Iron and Steel Factory in the northern province of Tuyen Quang at an estimated cost of around US$50 million. Hang Nguyen Minerals is a joint venture between the Tuyen Quang Industrial Development Company Limited and We Thao Stained Glass, a Chinese based company, and the factory is located on 20ha in Long Binh An Industrial Zone. When in full production it is expected the factory will be able to produce some 200,000 tonnes of cast iron per year in its first phase.

Additionally, the plant has a closed production process and uses ores from mines in Yen Son and Ham Yen districts, which always give a competitive advantage when a company has greater control over the entire value chain. Apart from contributing over VND1,500 billion (US$70 million) to the province’s industrial production value, and over VND100 billion (US$48 million) to the State budget, it is estimated that the project will generate nearly 700 local jobs.