Hoa Phat Plans 5.6 Million Tonne Steel Plant in Vietnam

2021-04-01

Apr. 1, 2021 - Vietnam-based steelmaker Hoa Phat Group has announced that its subsidiary Hoa Phat Dung Quat Steel Joint Stock Company plans to invest VND 85 trillion (USD 3.67 billion) in the construction of its Hoa Phat Dung Quat Steel Gang Manufacturing Area 2 Project. With the investment, the project will have an annual production capacity of 5.6 million tonnes, including 4.6 million tonnes of flat steel and 100,000 tonnes of high quality bar and wire rod. The construction is scheduled to be completed and the project to be put into operation within 36 months from the date of granting a construction permits.

On March 25, 2021, the Board of Directors of Hoa Phat Group Joint Stock Company held a meeting and approved the investment

1. Project name: Hoa Phat Dung Quat Steel Gang Manufacturing Area 2

2. Investor: Hoa Phat Dung Quat Steel Joint Stock Company

3. Project implementation location: Expected Binh Dong Commune and Binh Thuan Commune, Binh Son District, Quang Ngai Province, Vietnam.

4. Estimated land area to use: Estimated 283.73 hectare

5. Total investment: Estimated 85,000 billion VND, of which 70,000 billion VND fixed capital & 15,000 billion VND working capital

6. Capacity: Expected 5.6 million tonnes per year, of which flat steel estimated at 4.6 million tonnes per year & 0.1 million tonnes per year of high quality bar and wire rod