E United Speeds Construction of Steel Mill in Vietnam

Taipei, Nov. 12, 2009 (CENS)--E United Group, one of Taiwan's largest integrated producer of steel products, will begin construction of an integrated steel mill in Vietnam in two phases, with each to have annual output of 3.5 million metric tons of raw steel. The group is budgeting US$3.7 billion or approximately NT$120 billion for the project.

With the first-phase construction to be completed as early as the end of 2012, the plant will focus on producing hot-rolled steel, most of which will be supplied to downstream steel operators in Vietnam.

After the first-phase plant is completed, the group will immediately kick off the second-phase plant construction. The construction of the second-phase plant will concentrate on a blast furnace and a wire-rod production line.

E United chairman I.S. Lin stressed the acceleration of the construction for the steel mill has close ties with the eased impact of the global financial crisis in September last year. At present, the company is negotiating with the Vietnamese government on plant-construction procedures and, on the other hand, having talks with manufacturers of production equipment for supplying the equipment on schedule.

Lin estimated construction of the steel mill will need about 7,000 up to 8,000 workers. Most of the construction workers will come from Taiwan and China.