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***SEAISI CONF: Thai unrest may drive steel investors to Vietnam

May 19, 2010 - 02:25 GMT Location: Ho Chi Minh

KEYWORDS: Vietnam , Thailand , steel , VSA , Isit , JFE Steel

Political unrest in Thailand may drive more foreign steel companies to invest in Vietnam instead, said Pham Chi Cuong, chairman of the Vietnam Steel Assn (VSA).

"There are many mills, [such as] Japanese mills, that want to invest in Thailand. But with the situation in Thailand, they may change plans and look at Vietnam instead. Vietnam will definitely gain," said Pham at the South East Asia Iron & Steel Institute (SEAISI) conference in Ho Chi Minh. "Vietnam's government has also been very supportive to the steel industry in the country. They meet mill officials from overseas and may give many incentives," he said, declining to elaborate. Last month, JFE Steel received in-principle approval to conduct a feasibility study to build a $5 billion, 6-10 million tpy blast furnace in Dung Quat, Quang Ngai province,...

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