PM approved Hoa Phat's $3 billion steel project in Dung Quat EZVietnamese Prime Minister Nguyen Xuan Phuc has given the go-ahead to Hoa Phat's high-profile steel plant in the Dung Quat Economic Zone, newswire thanhnien.vn reported. A letter signed by Deputy Prime Minister Trinh Dinh Dung said the PM agreed with the overall direction of the steel project in the economic zone located in the central Quang Ngai province. According to the Dung Quat Economic Zone Management Authority, the steel plant with an annual expected revenue of $2 billion will not only contribute about VND4 trillion ($178.3 million) a year to the province's budget, but also create about 8,000 jobs. The approval of Hoa Phat's project comes after a 2016 year of intense public debate over environmental consequences of large steel plant. In August, the government approval of Hoa Sen Group's $10.6 billion steel plant, which would be the largest in Vietnam, was met with widespread concerns over its environmental impact.

Source: VietNamNet News February 02, 2017 11:15 UTC