Updated Tuesday, October 16, 2007 0:00 am TWN, Bloomberg

E-United, Tycoons to build steel plant in Vietnam

TAIPEI, Taiwan -- Taiwan’s E-United Group and Tycoons Group Enterprise Co. plan to spend an estimated US$1.8 billion over the next three years building a steel plant in Vietnam. The mill, with E-United holding 90 percent and Tycoons the remainder, will have an annual capacity of 2 million metric tons of crude steel, according to Tseng Jung-ching, vice president of E-United.

The factory will supply the partners’ plants in Taiwan and Vietnam, Tseng said by phone from southern Taiwan’s Kaohsiung county yesterday.

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