South Korea’s mid-sized steelmaker SeAH Steel Hold
The company said it has injected $37.8 million since June 2017 to build the plant in Dong Nai, Vietnam, which is capable of 100,000 tons of steel pipes per year, such as oil well pipes for casing and tubing and black tubes for plumbing.
Upon the completion of the new plant, SeAh Steel’s total annual output of steel pipes would reach 370,000 tons in Vietnam, according to the company. It currently runs a 230,000-ton level plant, the first plant of SeAH Steel Vina, in Dong Nai and a 40,000-ton level plant of Vietnam Steel Pipe, a 50-50 joint venture with local steel maker Vietnam Steel Corp., in Haiphong.
Vietnam’s steel pipe market is thriving on a rise in building projects, on top of the government’s funding for local infrastructure. According to estimates by the Vietnam Steel Association, annual output and consumption of steels in the country grew by 15 percent and 21 percent, respectively, last year.
SeAH Steel Holdings operates seven manufacturing plants across the globe including the United States, Italy and the United Arab Emirates. The company now is planning to make all-out efforts to fast optimize the production of the new plant to raise its SeAH Steel Vina to the No. 1 pipe maker in Asia.