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Kyoei Steel to build a reinforcing bars plant in Vietnam- The 19th China (Guangzhou) Int’l Plate metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
8/22/2017 金屬板材展-棒材-線材展 -plate metal expo-wire expo |
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Nikkei reported that Japanese steelmaker Kyoei Steel will build a plant for reinforcing bars in northern Vietnam for about 21.8 billion yen (USD 200 million), revisiting stalled plans in order to both boost output capacity and cut down on costs. As per report, construction will begin by the end of the year, with the rolling mill slated to come online in 2019 and the steelmaking facility in 2020.
The Osaka-based company began planning a new steelmaking and rolling facility with an annual output capacity of 500,000 tonnes back in 2012, when it acquired the operations in Vietnam. But it suspended all new construction in 2014 amid a tougher market.
Kyoei Steel currently can only roll steel in Vietnam. It processes steel billets purchased from the outside into bars and other products. But market conditions in China have led to an increase in billet prices. By also handling production in house, the electric-furnace steelmaker hopes to cut production costs.
金屬板材展-線材展-金屬加工展-2018第十九屆廣州國際金屬板材展—全球三大金屬展之一巨浪展覽
-- The 19th China (Guangzhou) Int’l Plate
metal, Bar, Wire, Metal Processing &Setting Equipment Exhibition
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