Archive for the ‘PASCO’ Category

Vietnam Rejects Steel Mill for Environmental Concerns

November 14, 2008

Vietnam has rejected a proposal by South Korea’s Posco Group to build a 5.4-billion-dollar steel mill near a coastal resort, citing environmental concerns, state media reported on Friday.

The hot-rolled steel mill proposed for south-central Nha Trang’s Van Phong Bay would have breached environmental protection rules, said a decision from Prime Minister Nguyen Tan Dung, according to the Tien Phong (Pioneer) daily.

AFP

The headquarters of POSCO in Seoul. Vietnam has rejected a proposal ... 
The headquarters of POSCO in Seoul. Vietnam has rejected a proposal by the South Korean group to build a 5.4-billion-dollar steel mill near a coastal resort, citing environmental concerns(AFP/File/Jung Yeon-Je)

The newspaper, and other media reports, said another reason the government scrapped the project was that it would have clashed with the planned development of a major container port in Van Phong Bay.

Dung asked Khanh Hoa province leaders to discuss other possible sites for the mill, according to the news website VietnamNet.

The premier, in a televised address to the national assembly on Thursday, said the communist government had “refused a project worth 4-5 billion dollars in steel” for environmental reasons, without naming the project.

He added that the government was determined to prevent further pollution in the country of 86 million people, where rapid industrialisation since the 1990s has caused widespread river and air contamination.

In January local authorities had given Posco and local ship builder Vinashin the green light to build the mill, including a 1,000-megawatt power plant.

Read the rest:
http://news.yahoo.com/s/afp/20081114/sc_afp/vietnam
skoreasteelposco_081114041832

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