HANOI -- Vietnamese steelmaker Hoa Sen Group has walked away from a $10 billion production complex under construction because of a glut of cheap Chinese steel and local protests against the project.
The steel mill, located in southern Ninh Thuan Province, no longer fits in Hoa Sen's growth strategy, the company said in a recent statement. The project, which was to consist of multiple blast furnaces, would have been among the largest steel production centers in Vietnam.
