Formosa Plastics Group (FPG) has invited Japanese steelmaker JFE Steel Corp to form a partnership to run Formosa Ha Tinh Steel Corp in Vietnam. A deal is likely to be signed within the next two months.

According to a report in the Taipei Times, JFE Steel Corp is likely to hold a 10% share in the Vietnamese company.

The deal between the two companies, if concluded, will be the second co-operation between FPG and JFE. The first was a deal to operate Fujian Fuxin Special Steel Corp in China.

FPG president William Wong said further investment of US$2 billion in phase two construction of the Vietnamese plant is planned and should be completed by the end of 2015.

Source: Taipei Times.