Metalnewsnet 11 May ：

It is reported that Wuhan Iron and Steel Group has started a Vietnam steel project and a Laos mining project through KunSteel Holding which is controlled by the Group subsidiary, Wuhan Iron and Steel. It will be the first Chinese steel factory built in Southeast Asia.

There were also previously, it was rumored that Wuhan Iron and Steel Group would spend USD 5 billion to build a factory in Brazil.

KunSteel Vietnam steel projects will be completed in two phases. The first phase includes smelting, forging and mining projects which will be completed by the end of 2011. After the first phase the plant will have a yearly capacity of 200,000 tonnes of steel. After the second phase is completed final yearly capacity of the whole project will increase to 500,000 tonnes.

KunSteel has also signed several lead and zinc mining contracts with First Pacific Mining Co in Laos.

(from reports 163)