Posted on 23 Feb 2017
Japanese steelmaker the JFE Steel Corporation has worked with the Mechanization Electrification Construction Corporation Joint Stock Company (AGRIMECO) to establish a joint venture company in Hanoi to sell processed construction materials.
AGRIMECO constructs hydroelectric power plants and steel high-rise buildings and also processes construction materials. The new company, AGRIMECO & JFE STEEL PRODUCTS CO., LTD. (A&J), will sell processed construction materials by leveraging AGRIMECO’s strong local presence and JFE Steel’s capabilities in technological development and value engineering and value analysis. A&J is the first joint venture JFE Steel has established with a construction and steel-processing company such as AGRIMECO.
A&J is the JFE Group’s latest initiative to expand its involvement with infrastructure-related construction materials outside of Japan, a key medium-term priority for JFE. The group also established GECOSS VIETNAM COMPANY LIMITED in August 2016.
JFE Steel contributes to infrastructure development in Southeast Asia by drawing on diverse advanced technologies from JFE Group companies, including Vietnamese subsidiaries J-Spiral Steel Pipe Co., Ltd. and GECOSS VIETNAM.
Vietnam, the largest steel-consuming country in Southeast Asia, is enjoying GDP growth in excess of 6 per cent and is forecast to continue growing. Domestic demand for construction materials is expected to remain strong and stable as the country actively expands its roads, railways, and other transportation infrastructure, as well as power plants.
JFE Steel Corporation, one of the world’s leading integrated steel producers, was established through the consolidation of NKK Corporation and Kawasaki Steel Corporation in 2003. The company operates several steelworks in Japan and numerous branch offices and affiliates throughout the world. JFE Steel leverages world-class technologies and know-how to produce a wide range of products based on its “Only One, Number One” strategy of focusing on unique and best-in-class products.
