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).
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) . The land lease period is 70 years, the land rent is more than 96 billion VND for the entire lease period.
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.