The central province of Quảng Ngãi has agreed in principle for Belgium’s NV Bekaert SA to build a steel fiber factory in a 40-hectare site at the VSIP Quảng Ngãi Industrial Park in the Sơn Tịnh District.

A report in multiple news organizations, including Viet Nam News, said that the Bekaert Việt Nam-Dung Quất steel fiber plant would have a total investment capital of more than US$125 million. Construction should begin late this year, and be in operation in 2021. At that point, it should be able to produce a range of products for automotive and other industries. The factory’s capacity would be up to 75,000 metric tons (mt) a year of braided steel fibers, 2,000 mt of steel cords and 2,000 mt of improved braided steel fiber, it said.

The project, the stories said, would be the second largest foreign direct investment (FDI) project in the Quảng Ngãi Province, after the project of Doosan Heavy Việt Nam Co. Ltd. 

Learn more about Bekaert by visiting their website, here.