Pomina Steel will present a plan to increase investment
capital for the blast furnace project at Pomina 3 branch to VNĐ5.9 trillion
(US$245.8 million) from nearly VNĐ5 trillion.
HÀ NỘI —
Pomina Steel Corporation (POM) has just announced its plans for an
extraordinary general meeting (EGM).
Notably,
the company plans to present to shareholders a comprehensive restructuring plan
through cooperation with strategic investors to establish a new legal entity,
Pomina Phú Mỹ Joint Stock Company.
POM will
contribute capital by transferring all land, factories and equipment. Strategic
investors will contribute capital in cash. The strategic investors, charter
capital and ownership structure will be presented specifically at the general
meeting.
According
to POM, the strong restructuring process, especially with the participation of
strategic investors, marks an important turning point for the company. This
strategic partnership will provide the necessary capital for POM to restart the
blast furnace steelmaking process.
It is
expected that POM will restart the blast furnace in the fourth quarter of 2024
after a period of inactivity to prepare for the return of real estate projects
that are expected to recover strongly in the last months of the year.
At the
extraordinary shareholders' meeting in 2024 slated to be held on March 1,
Pomina Steel will present a plan to increase investment capital for the blast
furnace project at Pomina 3 branch to VNĐ5.9 trillion (US$245.8 million) from
nearly VNĐ5 trillion, an increase of more than VNĐ900 billion. — VNS