Vina Kyoei Steel

completed

Summary Of Project Information (SPI)Project NameVietnam-Vina Kyoei Steel LimitedRegionAsiaSectorProject No005135Projected Board DateJuly 18, 1995Company NameVina Kyoei Steel LimitedTechnical Partner and/or Major Shareholders Kyoei Steel Limited, Japan Vietnam Steel CorporationProject Cost Including proposed IFC investment Project Cost : US$70.8 million - IFC “A” Loan : US$15 millionLocation of project and Description of site The project will be located in Phu-my village in Baria Vung Tao province in southern Vietnam. The project is located in an area with increasing industrial activity. The government of Vietnam is planning to construct a power plant near the project site.Description of Company and Purpose of Project Vina Kyoei Steel is a joint venture between Japanese and Vietnamese partners to construct a 300,000 tpa steel re-rolling mill to produce reinforcing bars primarily for the domestic market.Environmental Category and Issues This is a category B project according to IFC''s environmental review procedure. Environmental and occupational and health issues associated with this project include site location, air emissions, liquid effluents, solid wastes, occupational health and safety and environmental policy. The project site is located within a classified industrial zone. VKS will use low sulfur fuel to keep sulfur dioxide and nitrogen dioxide emissions below 410 mg/scm and 310 mg/scm respectively. The facility will have extensive ventilator duct coverage to avoid dust problems in the working environment. Cooling water will be recirculated in a closed system. Sanitary wastewater will be treated to comply with local requirements and World Bank guidelines. The re-rolling process results in formation of iron oxide scales, which will be deposited on-site. VKS will provide employees with all necessary personal protective equipment and a safety section including an emergency room with personnel will be available at the plant. A written environmental policy is under preparation and will be ready before start-up of the plant. IFC will ensure ongoing compliance with World Bank guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by VKS and by conducting periodic supervision The is June 30, 1995 from the Public Information Center.Host country location of environmental documentsHo Chi Minh City Viet NamDate SPI sent to PIC June 13, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).