Monday, 14 Sep 2009
Source: Intell Asia
Intell Asia reported that PEB Steel Buildings has opened a new plant at Bong Xuyen Industrial Park in southern Vung Tau City. The USD 4 million facility, PEB Steel's fifth factory in Asia, will boost the company's yearly production capacity in Vietnam by 18,000 tonnes of steel, bringing its total Asian capacity to more than 120,000 tonnes per year.
The new plant is equipped to produce both pre engineered building structures and heavy structures, including those that are hot rolled, for power and industrial plants, oil and gas facilities and multi storey and high rise buildings. The factory will employ 150 workers.
Mr Audri Mukhopadhyay consul general of Canada in HCM City said that PEB was one reason making two way trade between Canada and Vietnam rise 425% between 1998 and 2008. He added that "We are proud of Canadian entrepreneurs like Mr Sami Kteily and his brother Mr Adib. They made a commitment to Vietnam, long before many others, recognizing the enormous potential of this market."
In 2008 alone, trade between the countries reached an all time high of CAD 1.3 billion. Canada's registered capital in Vietnam grew to USD 4.2 billion in 2008, making it the fifth largest investor in the country last year. In addition to Viet Nam, PEB Steel has fabrication facilities in India and Bangladesh, and regional offices in Thailand, Myanmar and Cambodia.