You are here: Home > Steel News > Latest Steel News > Vietnam’s...

Vietnam’s Hoa Phat plans to complete first HRC line at Dung Quat 2 plant this year

Wednesday, 12 June 2024 12:24:20 (GMT+3)   |   Istanbul
       

Vietnam-based steel producer Hoa Phat Group has announced that it has increased its efforts in construction works at its Hoa Phat Dung Quat 2 plant and that it plans to complete the construction of the first HRC line, which is designed and supplied by UK-based plantmaker Primetals Technologies, at the same plant within the current year.

Entailing an investment of VND 85 trillion ($3.3 billion), the plant will have a production capacity of 5.6 million mt per year, with a 2,500 cubic meter blast furnace. The company will also make investments to reduce carbon emissions and energy consumption within the scope of the current environmental standards. The first phase of the project will be commissioned in the early first quarter of 2025, while the second phase will be completed and become operational in the last quarter of the same year.

The Hoa Phat Dung Quat 2 plant will produce high-quality HRC, catering to the needs of many sectors including automotive, household appliances and containers. Hoa Phat expects to be among the top 30 largest steel enterprises in the world, following the completion of its new plant.

This month, the company produced its 10 millionth mt of hot rolled coil since first production in May 2020, as SteelOrbis reported previously.


Similar articles

Brazilian HRC export price declines slightly in two weeks

14 Nov | Flats and Slab

Flat steel prices in local Taiwanese market - week 46, 2024

14 Nov | Flats and Slab

HRC prices from EU mills remain stable, import offers rise slightly despite slow demand

14 Nov | Flats and Slab

Turkish flat steel spot prices soften further as mills reduce HRC prices

14 Nov | Flats and Slab

Major steel and raw material futures prices in China – November 14, 2024 

14 Nov | Longs and Billet

US issues preliminary results of AD/CVD reviews on HRC from S. Korea

14 Nov | Steel News

US to continue AD and CVD orders on HRC from six countries

14 Nov | Steel News

US HRC exports down 27.1 percent in September from August

14 Nov | Steel News

US steel markets react to Trump victory, focus on higher tariffs and tax cuts likely to affect steel prices, further ...

13 Nov | Steel News

Emirati buyers delay HRC purchases as ex-China offers soften

13 Nov | Flats and Slab