Japan's JFE Steel to invest $220 mln in Vietnam steelworks project

30 July 2015

JFE Steel, Japan's second-biggest steelmaker, said on Thursday it would invest about 27 billion yen ($220 million) in a steelworks being built by Taiwan's Formosa Plastics Group in Vietnam in an effort to expand its global network to drive growth.

JFE, steelmaking unit under JFE Holdings Inc, plans to take a 5 percent stake in the plant's operating company, it said.