The Prime Minister asks the Ministry of Industry and Trade to evaluate the basic design of the project and ensure the investor would do what is pledged in terms of technology, equipment, technical and compliance with environmental standards.

The Ministry of Science and Technology in collaboration with Quang Ngai must keep a close watch on whether Hoa Phat will deliver on its promises about technology and equipment as stated in the investment registration certificate.

The Ministry of Natural Resources and Environment is tasked with appraising an environmental impact assessment report on the project. In addition, the ministry will join hands with the province to draw up an environment monitoring plan for the project, and make sure the investor will comply with the law on environmental protection and their environmental protection commitments.

Hoa Phat’s iron and steel production complex in Dung Quat Economic Zone will go up on the premises of the Guang Lian steel project which was included in the steel production and distribution system development plan until 2020, with a vision towards 2025, approved in early 2013 by the Minister of Industry and Trade.

In October 2016, the Dung Quat Economic Zone Authority said Hoa Phat Group had bid to replace Taiwanese investor E-United Group to execute the project. The authority later consulted relevant government agencies over this matter.

With total capital of nearly US$3 billion, the Hoa Phat Dung Quat steel project would have an annual capacity of four million tons, and be carried out in two phases with each having a yearly capacity of two million tons.

In mid-2015, E-United Group informed local authorities of its failure to secure enough finances for the project.

The Dung Quat Economic Zone Authority issued a decision in July 2016 terminating the Guang Lian project after 10 years of delays.

Source:  thesaigontimes.vn