Vietnamese Prime Minister Rejects Korean Steel Project in Van Phong - Vietnam Briefing News
Nov. 19 – Vietnam's Prime Minister Nguyen Tan Dung has denied the construction of a Korean steel mill by the Posco Group in Dam Mon in Van Phong bay, Khanh Hoa province.
The Prime Minister said the Posco steel mill would clash with the development of the approved Van Phong international container port, in addition to the project not passing the strict requirements for ecological environment protection.
According to Nahn Dan News, PM Dung said that priority should be given to the Van Phong entrepot project and environmental protection for ensuring sustainable development.
If implemented, the Posco steel mill project would have had a total capacity of 12 million tons of steel annually with total investment capital of almost US$10 billion.
The project has also been denied by experts, managers and local residents, as being harmful to the environment.