With an investment totalling around 525 million yuan, the facility is slated to achieve an annual production capacity of 800 million cans. This initiative is geared towards advancing their "internal and external linkage" strategy, optimising production layouts, bolstering customer support, and expanding service capabilities to penetrate the Southeast Asian market better.
To facilitate this initiative, Baosteel Packaging intends to establish a new entity named Vietnam Hue Baosteel Can Longan Branch, operating under its wholly-owned subsidiary Vietnam Baosteel (Hue). The facility will be located in the Fuansheng Industrial Zone in Long An Province, Vietnam.
The construction timeline is projected to span around 20 months, subject to actual construction progress. The new aluminium two-piece can production base is designed to have an annual capacity of 800 million cans, addressing the market demand in Vietnam. This strategic move aligns with Baosteel Packaging's goals of expanding overseas business opportunities, enhancing customer support capabilities, and improving overall competitiveness and long-term development prospects.
Aluminium stocks at Japanese ports drop 9% Y-o-Y in August, highlighting ongoing supply issues in Asia
