According to the source, the deep water port is a part of billion-US dollar investment project of Formosa Plastics in Vietnam, which is designed being near a steel mill in Ha Tinh province. With the completion schedule in 2012, the port could start operation with a capacity of 300,000 tonnes.

Aforementioned steel mill will have an initial capacity of about 7.5 million tonnes, 30 kilometres far from Thach Khe cast iron ore.

Also, the foreign group plans to build another steel mill and a petrochemical complex in Vietnam in the near future.

Lao Dong - September 16, 2009

Taiwan's Formosa Plastics plans huge Vietnam port

TAIPEI — Taiwan's leading industrial conglomerate Formosa Plastics plans to build one of Southeast Asia's biggest deepwater ports as part of a multi-billion-dollar project in Vietnam, an official said Tuesday.

The port will be sited near a steel mill the company intends to construct in central Ha Tinh province, said the official, who asked not to be named.

"It will become one of the biggest deepwater ports in Southeast Asia," the official told AFP, adding it will be able to accommodate freighters with a capacity of up to 300,000 tonnes when completed by 2012.

The steel mill, designed with an initial capacity of 7.5 million metric tonnes, will be located about 30 kilometres (20 miles) from Vietnam's largest iron ore deposit at Thach Khe.

"The steel mill is mainly aimed at Vietnam's domestic market, which is rising fast but so far has had to rely mainly on imports," the official said.

"But in the future, its steel products can also be sold to the neighbouring countries in the Southeast Asian region," he said.

He said the complex will be benefit from a free trade agreement the 10 members of the Association of Southeast Asian Nations have agreed to, aiming for zero tariff rates on virtually all imports by 2010.

The conglomerate plans to build a second steel mill and a petrochemical complex later in Vietnam.

Agence France Presse - September 15, 2009