SINGAPORE Vietnam has drawn up long-term plans for production of pig iron and sponge as well as steel billet with a view to building and developing a strong national steel industry.
The country is targeting annual output of 6 million tonnes of pig iron and sponge and 12 million tonnes of billet by 2015, Trinh Dinh Thang, deputy director-general of international cooperation at Vietnams Ministry of Industry and Trade, said during a presentation at a meeting of the Organization for Economic Cooperation and Development steel committee in Paris.
The projected billet output would more than double Vietnams production of 5.3 million tonnes last year.
The longer-term plan is to raise annual production of pig iron and sponge to 17 million tonnes by 2020 and 28 million tonnes by 2025, and billet production to 25 million tonnes by 2020 and 40 million tonnes by 2025, Thang said.
Further down the line, the country is aiming not just to produce enough billet to meet domestic demand but also to be in a position to export the semi-finished product, the Vietnam Steel Association has said previously.
A version of this article was first published by AMM sister publication Steel First.