Home Companies

Hoa Sen gets overwhelming yes from shareholders for giant steel plant

Sep 8th at 09:20
08-09-2016 09:20:46+07:00

Hoa Sen gets overwhelming yes from shareholders for giant steel plant

Hoa Sen Group (HSG)'s shareholders have almost unanimously approved construction of a mammoth steel plant in the central province of Ninh Thuan.

 

At an extraordinary shareholders meeting held on Tuesday to seek approval for the project, 97.26 per cent voted for it.

The shareholders also unanimously left it to the board of directors to decide how to mobilise and use funds for the new plant and approved the incorporation of companies to carry out the project.

Five will be set up to carry out individual pars of the project.

To cost US$10.6 billion, the Hoa Sen Ca Na – Ninh Thuan Steel-making Complex will be built in Thuan Nam District with an annual capacity of six million tonnes in the first stage.

After it is fully completed in 2031 its capacity will rise to 16 million tonnes.

bizhub

MOST READ

NEWS SAME CATEGORY

PAN Group to lift foreign ownership bar
COMPANIES Sep 6th at 16:07

PAN Group to lift foreign ownership bar

The State Securities Commission has approved PAN Group JSC's lifting of the limit of foreign ownership in the company's capital.

SCIC to sell stake in Cafatex Corp
COMPANIES Sep 6th at 16:04

SCIC to sell stake in Cafatex Corp

State Capital Investment Corporation (SCIC) will sell more than 265,000 shares in seafood producer Cafatex Corporation, the HCM Stock Exchange said in a statement...

Domesco to lift foreign ownership cap
COMPANIES Sep 6th at 11:20

Domesco to lift foreign ownership cap

The State Securities Commission (SSC) has allowed Domesco Medical Import Export Joint Stock Corporation (Domesco) to increase its foreign ownership to 100 per cent...

Kido on the market for vegetable oil companies
COMPANIES Sep 5th at 20:28

Kido on the market for vegetable oil companies

Foodstuff producer Kido Joint Stock Company (KDC) is increasing stake acquisitions in vegetable oil manufacturing companies as part of its strategy to penetrate...

DAG secures lucrative deal in Brazil
COMPANIES Sep 1st at 13:18

DAG secures lucrative deal in Brazil

Dong A Plastic Group (DAG) has just expanded its global reach by signing a contract with Brazilian building materials trader Al Importacao e Exportacao Eireli Epp.

Sun Life Assurance buys out PVI stake
COMPANIES Aug 31st at 13:31

Sun Life Assurance buys out PVI stake

Canada's Sun Life Assurance Company has bought out PVI Holdings' 25 per cent stake in PVI Sun Life Insurance Company Limited to increase its ownership to 100 per...

Vinamilk among Asia Pacific's 50 best listed firms
COMPANIES Aug 30th at 13:25

Vinamilk among Asia Pacific's 50 best listed firms

Vietnam Dairy Products or Vinamilk "breaks the ice" to grab a spot in the top 50 best listed firms in the Asia Pacific region, Forbes Magazine said on August 24.

GIC to become third largest shareholder in Vietcombank
COMPANIES Aug 30th at 11:00

GIC to become third largest shareholder in Vietcombank

On August 29, Bank for Foreign Trade of Vietnam (Vietcombank) signed a Memorandum of Understanding (MoU) to sell a 7.73 per cent stake, equalling 305.8 million...

Hoa Sen to build giant steel complex in Ninh Thuan
COMPANIES Aug 30th at 08:19

Hoa Sen to build giant steel complex in Ninh Thuan

Hoa Sen Group will build a steel plant with a capacity of 16 million tonnes a year in the south-central province of Ninh Thuan at a cost of US$10.6 billion.

Vietnam dairy giant listed among Asia’s most fabulous
COMPANIES Aug 29th at 13:24

Vietnam dairy giant listed among Asia’s most fabulous

A Vietnamese company has finally been able to rub shoulders with other regional enterprises in Forbes Asia’s Fabulous 50 List, which honors the best publicly traded...

Read More

MOST READ

Back To Top