Posco SS Vina, a subsidiary of Korean giant Posco Group, received Monday the license to build a $620 million steel plant at the Phu My 2 Industrial Zone in Ba Ria-Vung Tau Province.
The mill, with an annual capacity of one million tons, will produce H-shaped steel, I, U, angle steel, and round steel.
Four years ago Posco built a steel ingot plant at a cost of $1.1 billion in the province.