Pomina 3 steel complex to start operation in April

News - Vietnam Steel Corporation will put Pomina 3 steel complex in Ba Ria-Vung Tau Province’s Phu My Industrial Park to test-run operation this April.

Costing some US$300 million, Pomina 3 steel complex includes a steel ingot mill, a steel processing mill and an internal shipping port equipped with advanced European technology, said Do Duy Thai, general director of the Vietnam Steel Corporation.

Pomina 3 steel complex will provide the country with one million tons of steel ingot. Currently, the Vietnam Steel Corporation is operating two mills namely Pomina 1 in Binh Duong Province and Pomina 2 in Ba Ria-Vung Tau Province.

Due to a downtrend in domestic steel consumption, the corporation is making every effort to stimulate steel exports to Cambodia, Laos, Myanmar and the U.S. It strives to increase export ratio in total output to 30% from the current 12% within the next five years.

According to the Vietnam Steel Association, the national steel ingot output totals four million tons at the time being, far lower than the demand for materials as the country is producing about nine million tons of finished steel products a year.