The relatively quiet Vietnamese province of Binh Dinh will experience heavy industry now that its government has approved a $2.2bn steel plant, complete with its own dedicated port, the VNExpress news site reports.
With a population of around 1.5 million, Binh Dinh province is best known for furniture making and agriculture. It has no steel mills and its ports can only handle ships with a weight of 50,000 tonnes.
The Long Son Steel Complex will be built on a 470ha site in the coastal district of Hoai Nhon.
Producing fabricated steel, construction steel and coil steel, its expected annual capacity of 5.4 million tonnes puts it in the premier league of global steel mills.
The plant is being developed by the Long Son industrial conglomerate, which is based in northern Vietnam’s Ninh Binh province. In August, the company completed work on a $5.1bn petrochemical complex in the southern Vietnamese province of Ba Ria-Vung Tau.
Work on the steel plant will be carried out in three phases, with the first due to be complete in late 2024.
The project will also involve construction of a 340ha port at Hoai Nhon to support the plant. This will have 14 wharves capable of handling vessels up to 250,000 tonnes, and an annual capacity of around 30 million tonnes. It is expected to have a construction value of $400m.