#GangThepThaiNguyen #Tisco2 #ThepVietNam #KinhTeVietNam #DauTuCong #NhaThauTrungQuoc #CongNghiepNang #ThaiNguyen #KhungHoangCongNghiep #TaiKhoiDongDuAn
😲 A steel project was once expected to become an industrial symbol in the North, why did it turn into a "heap of rusty iron" for more than a decade and who will be responsible for trillions of dong evaporating 🌿🤔
The phase 2 expansion project of Thai Nguyen Iron and Steel Company was once considered the "trump card" of Vietnam's metallurgical industry. But after more than 10 years of stagnation, a series of rusty equipment, abandoned factories, thousands of billions of dong in capital and many prolonged legal controversies have turned this place into one of the most famous loss-making projects in Vietnam 💖
📊 Overview of TISCO 2 project
Category Information
Thai Nguyen Iron and Steel Investor TISCO
Total initial capital is about 3,800 billion VND
Total capital after adjustment is more than 8,000 billion VND
Construction start date 2007
Current status Covered for more than 10 years
Main contractor MCC China
Big problem: Delayed progress, overcapitalization, contract disputes
🔥 What has caused the strongest public debate is not only the figure of more than 8,000 billion VND, but also the fact that the project was expected to help Vietnam reduce dependence on imported steel, compete directly with Chinese steel and expand domestic heavy industry capacity.
While the project was "frozen", the Vietnamese steel market completely changed.
📈 Compare the current steel market correlation
Business Current position
Hoa Phat is the leader in construction steel in Vietnam
Formosa Ha Tinh Extremely large-scale steel center
Hoa Sen Group Strong in steel sheets and exports
TISCO Facing long-term difficulties
💥 The most heartbreaking thing is that many imported devices have seriously degraded over time. Many experts believe that if it restarts, the actual cost may be much higher than the previously announced figure.
📉 The economic consequences are clearly visible
Impact Issue
Capital team Extreme financial pressure
The project is 10 years behind. Loss of market opportunity
Equipment deterioration Risk of increased costs
Contract disputes Prolong legal proceedings
Investment efficiency is greatly questioned
🌿 A steel factory "sleeping" for more than a decade is not just a story of the steel industry. It reflects the problem of public investment management, contractor selection, operating capacity and the ability to react when the market changes too quickly.
💰 If roughly converted at current prices, more than 8,000 billion VND could be built.
• Dozens of large schools and hospitals
• Many important provincial traffic routes
• A new high-tech industrial complex
• Or hundreds of thousands of tons of more modern steel with new technology
😲 While Hoa Phat continuously expands Dung Quat, Formosa Ha Tinh increases capacity and Chinese steel is increasingly under price pressure, does TISCO 2 still have a chance to "revive" or is it too late for a Vietnamese steel dream 🌿🤔
#HoaPhat #FormosaHaTinh #ThepTrungQuoc #Tisco #CongNghiepVietNam #KinhTe #DauTu #DoanhNghiepNhaNuoc #ThiTruongThep #TinNongKinhTe
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