Steel Company Partners with Vinaconex on Its First Real Estate Project Worth More Than 6 Trillion VND

Vietnamese Steel Pipe Company (VGS) has partnered with Vinaconex to implement the Viet Duc Legend City urban area project with an investment of over 6 trillion VND. The project has been delayed due to personnel changes and administrative procedures in Vinh Phuc province. Vinaconex will assist in raising funds up to 50% of the project costs, while VGS retains the role of the main investor. Viet Duc Legend City covers an area of 62 hectares and is expected to provide various types of housing. The company is currently clearing land and constructing the project’s first phase. VGS emphasizes careful investment preparation to avoid shortcomings, especially with its first project. Concurrently, VGS’s General Meeting of Shareholders also changed some personnel in the Supervisory Board.