It is estimated that the total investment capital of Nam Kim Steel Joint Stock Company’s steel factory project is about VND 2,200 billion. The factory will be built in Ba Ria Vung Tau province.
The Board of Directors of Nam Kim Steel Joint Stock Company (Stock code: NKG) has just released a resolution approving the pre-feasibility study report of Nam Kim Steel Factory in Ba Ria Vung Tau.Total capacity of the factory is estimated at 800,000 tons per year with an expected investment capital of about VND 2,200 billion.
The factory will produce zinc galvanized iron sheets, zinc-aluminum galvanized iron sheets, paint-coated zinc-aluminum galvanized iron sheets, and paint-coated zinc galvanized iron sheets. In addition, the factory will manufacture steel pipes, box steel, and products made from rolled steel, cold rolled steel, zinc galvanized steel, black steel tape, zinc galvanized steel tape.
The Board of Directors authorized Mr. Ho Minh Quang – Chairman of the Board of Directors – to decide the location of the project, sign land lease contracts and purchase machines and production lines.
Recently, Nam Kim Steel Joint Stock Company held an extraordinary General Meeting of Shareholders to approve of the plan to issue 30 million shares to strategic shareholders at a price of not less than VND 27,000 per share. The release time will be in the third or fourth quarter of 2017.
The proceeds from the issuance of shares is around VND 810 billion. In particular, VND 400 billion will be used to add to working capital; VND 150 billion will be used to invest in the Nam Kim Steel project which is under construction; and VND 260 billion will be used to invest in Nam Kim Corea Joint Stock Company.
In the second quarter of 2017, Nam Kim Steel Joint Stock Company’s revenue reached VND 3,094 billion, rising by 42%. However, its profit after taxes fell by 19%, reaching VND 194 billion.
Nam Kim Steel Joint Stock Company said that the cost of raw materials and selling expenses increased because it promoted the development of marketing its brand. In addition, Nam Kim 3 factory put into operation a number of lines, thus increasing the medium-term interest expenses 112% to VND 68 billion. These factors made the company’s profit after taxes drop by 19%.
In 2017, Nam Kim Steel Joint Stock Company plans to produce 800,000 tons of products per year, an increase of 48% in comparison with 2016.
http://namkimsteel.net/news/nam-kim-steel-jsc-plans-build-factory-capability-800000-tons-year/
Nam Kim Steel Joint Stock Company said that the cost of raw materials and selling expenses increased because it promoted the development of marketing its brand. In addition, Nam Kim 3 factory put into operation a number of lines, thus increasing the medium-term interest expenses 112% to VND 68 billion. These factors made the company’s profit after taxes drop by 19%.
In 2017, Nam Kim Steel Joint Stock Company plans to produce 800,000 tons of products per year, an increase of 48% in comparison with 2016.
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