Posted on 23 Sep 2015
Under the JFE Group’s fifth medium-term business plan from April 2015 to March 2018, JFE Steel aims to increase annual steel sales to 40 million tons. The company’s investment in FHS is one of its first major steps toward achieving this target.
JFE Steel will work with FHS to get the new integrated steelworks operating stably as soon as possible. Going forward, JFE Steel expects to expand the JFE's business network by selling the products made at FHS to our customers.
| Formosa Ha Tinh Steel Corporation (FHS) | |
| Location: | Vung Ang Economic Zone, Ky Anh Town, Ha Tinh Province, Vietnam |
| Establishment: | 2008 |
| Chairman: | Chen, Yuan Cheng |
| Business: | Integrated steelmaker |
| Capital: | USD 4.5 billion |
| Shareholders: | Current:FPG 81%, China Steel Corporation 19% Planned:FPG 70%, China Steel Corporation 25% and JFE Steel 5% |
| Employees: | 6,466 (planned for first phase of project) |
| Investment: | USD 10.5 billion (planned for first phase of project) |
| Planned facilities: | Coke oven, sintering facility, two blast furnaces, steelmaking facility, hot rolling mill, bar steel/wire rod rolling mill and electricity generator |
| Formosa Plastics Group (FPG) | |
| Head office: | 201 Tung Hwa North Road Taipei, Taiwan (ROC) |
| Establishment: | 1954 |
| Chairman of FPG Executive Board: | Wong, Wen Yuan |
| Business: | Manufacturing and selling petrochemicals and other products |
| Capital: | USD 21.4 billion |
| Sales: | USD 79.0 billion (fiscal year ended December 2014) |
| Employees: | 106,315 (December 31, 2014) |
