Malaysia’s Lion Group and Vietnam Shipbuilding Industry Group (Vinashin) have begun construction of Vietnam's largest steel complex with an investment of US$9.8 billion.

Vinashin said in a statement that the steel plant is expected to be commissioned in 2011, and is capable of producing 4.5 million tons per year and will have an annual capacity of 14.42 million tons by 2025.

The Lion Group holds 74 percent of the venture and Vinashin holds the remaining stake.