China Steel Sumikin Vietnam ready to start commercial production
Taiwanese steelmaker China Steel Corp (CSC) said its 1.6-million tpy joint venture cold rolling steel complex in Vietnam is ready to commence production.
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China Steel Sumikin Vietnam (CSVC), CSC’s joint venture with Nippon Steel & Sumitomo Metal Corp, produced a galvanized coil from its continuous galvanizing line without a hitch last week, paving the way for commercial production to start.
This follows the production of its first electrical steel coil from its annealing and coating line in April, as well as that of cold rolled coil from its continuous annealing line on June 1 and what the company calls “as cold rolled coil” from its pickling and tandem cold mill on June 14.
“This indicates that all four main production lines of CSVC have stridden into the production stage and will supply the Vietnamese and [Assn of Southeast Asian Nations] markets with high-quality steel products in the usages of automobiles, home appliances, building materials, structures and so on,” a statement from CSC released on Friday July 26 read.
At present, the various products have been sent to customers for quality approvals, CSC said.
CSC holds a 51% stake in the Vietnamese project while NSSMC has a 40% share. Formosa Ha Tinh Steel Corp has a 5% stake in the project while two other Taiwanese companies hold the remaining 4%.