Taiwan's Formosa Heavy Industries is having a new progress on its steelwork in Vung Ang, Vietnam.

The firm has placed an order to the Austrian plant maker Siemens for the four continuous casting machines for its new plant in Vung Ang, Vietnam which includes two slab casters, one billet caster and one bloom caster with total capacity of about 8.4 million tpy with rough schedule to operate in mid-2015.

Meanwhile, Formosa is currently constructing a new plant in Vietnamese central Ha Tinh province. The first stage production with 5 million tpy of capacities is set to complete in 2015.

The phase two is expected to double up to 10 million tpy and the final stage to set to reach 22 million tpy.