Japan’s Kawada Group will invest in Vietnam’s Thanh Long Steel Company based in Hung Yen province to produce high-tech steel in Vietnam.

Group President Tadahiro Kawada revealed the plan at a working session with managers of Thanh Long Steel Company on April 17.

Kawada spoke highly of Thanh Long’s potential and capacity for a specific cooperation agreement on high-tech steel production between the two businesses in the near future.

He said Kawada is the leading Japanese steel maker specialising in advanced production and management technologies, and it will transfer new technologies to Thanh Long Company.

Tran Dinh Thien, Director of Vietnam Economic Research Institute, noted cooperation capacity between domestic and foreign businesses remains weak, particularly in the mechanical engineering industry. He said cooperation between Thanh Long and Kawada will help the Vietnamese partner produce large-sized steel composition to serve the modern industry in the future.

Vu Thanh Long, Director General of Thanh Long Steel Company, said his company will work closely with Kawada in producing high-tech steel, developing human resources and transferring technologies.

Established in 1995, Thanh Long Company has taken part in many major projects across the country, such as My Thuan Bridge in Tien Giang, Han River Bridge in Danang, Tran Phu Bridge in Nha Trang, Tuan Bridge in Hue, and Nguyen Tri Phuong Bridge in Ho Chi Minh City.

Source: http://www.vir.com.vn