Vietnam's Hoa Phat proposes 5.6 million mt/year expansion in 2022

摘要

Vietnam's biggest steelmaker Hoa Phat Group plans to expand its existing steel plant at Dung Quat in central Vietnam as early as 2022, the company said in a draft resolution March 25. The resolution will be considered during Hoa Phat's annual general meeting of shareholders scheduled for April 22. The expansion project, Dung Quat 2, will have a total capacity of 5.6 million mt/year, comprising 4.6 million mt/year of hot-rolled coil and 1 million mt/year of bar and wire rod products. The company plans to invest Dong 85 trillion ($3.67 billion) to build the new project on 284 hectares of land in the Binh Son district of Quang Ngai province.