Vietnamese steel producer Hoa Phat Group will launch its Hoa Phat Dung Quat 2 iron and steel factory project in early 2022 with a capacity of 5 million tonnes per year, focusing on hot rolled coil (HRC) production using latest technology.
Hanoi (VNA) – Vietnamese steel producer HoaPhat Group will launch its Hoa Phat Dung Quat 2 iron and steel factory project in early 2022 with a capacity of5 million tonnes per year, focusing on hot rolled coil (HRC) production usinglatest technology.
Currently, domestic market demand for HRC – the materialsfor production of many products such as steel pipe, galvanized steel sheet,automobile spare parts, and household appliances, is about 12 million per year,60 percent of which is imported.
Recently, Hoa Phat has produced 1 million tonnes of HRC inits Hoa Phat Dung Quat complex after nine months of pilot production, which isa milestone of the firm.
Last year, Hoa Phat supplied nearly 700,000 tonnes of HRC.In 2021, the firm expects 2.7 million in HRC output, aꦡlong wꦛith more than 5million tonnes of steel billets and construction steel. All the targeted HRC andhalf of the billets and construction steel will be produced in Hoa Phat’s ironand steel production complex in Dung Quat./.
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Illustrative image (Source: tinnhanhchungkhoan.vn) 
