The project has an investment capital of over o­ne trillion VND (55.5 million USD) from the Van Loi Mineral and Metallurgy Co. Ltd. According to Van Loi’s Director Tran Manh Hung, o­nce it goes into full operation in August 2010, the plant will help reduce the amount of steel ingots the country needs to import, create jobs for over 1,200 people and contribute 115 billion VND (6.3 million USD) to the local budget.