POM will transfer all its assets, while strategic investors will provide cash.
The restructuring, aided by strategic investors, signifies a pivotal moment for POM, enabling the company to restart blast furnace steelmaking. POM aims to resume operations in the fourth quarter of 2024 in anticipation of the recovery of real estate projects.
Additionally, at the EGM scheduled for March 1, 2024, POM will propose increasing investment capital for the blast furnace project at its Pomina 3 branch to VNĐ5.9 trillion (US$245.8 million), up from nearly VNĐ5 trillion.
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