Formosa Vung Ang is a company located in Vung Ang Economic Zone, Ha Tinh Province. Formosa’s official name is Hung Nghiep Formosa Ha Tinh Iron and Steel Company Limited (FHS), a branch of Formosa Plastic Corporation, Taiwan.
Formosa is the investor of the Son Duong iron and steel complex project starting in 2008 with a total investment of nearly 10 billion USD (with a capacity of more than 10 million tons/year in phase I) and is planning to plan to increase capital to $27 billion (20 million tons/year in phase II).[1]
Total project implementation area is more than 3,300ha, including land area of more than 2,025ha and water surface area of more than 1,293ha (Son Duong port) [2]. The land lease period is 70 years, the land rent is more than 96 billion VND for the entire lease period.[3]
FHS registered 11 business lines, some important industries such as manufacturing and trading iron and steel; port business; Cement Production; trading thermal power plants and water treatment plants; construction, installation, operation and sales of gas plants, sale of compressed gases and liquids used in industry such as oxygen, nitrogen…; manufacturing, processing, manufacturing, trading and importing and exporting products related to coking coal, tar, light crude oil, and real estate business.
