Hoa Phat Dung Quat Steel JSC proposes large production projects in Quang Ngai Province

Following the commitment in the long-term strategic cooperation agreement with the central province of Quang Ngai, Hoa Phat Dung Quat Steel Joint Stock Company recently proposed to invest in expanding production projects, after completing the Hoa Phat Dung Quat Steel Integrated Complex 1. This proposal is in line with the industrial development orientation of Dung Quat Economic Zone, and at the same time complete the group’s close value chain of products ecosystem.

Hoa Phat Dung Quat Steel JSC proposed to expand investment to synchronize its projects and close the steel production chain and support industries, optimize land use efficiency and making greater contributions to the socio-economic development of the central Quang Ngai Province

Mr Mai Van Ha, Director of Hoa Phat Dung Quat Steel Joint Stock Company, said that Hoa Phat Group identified Quang Ngai Province as a key area for the group to focus its investment, production and business resources in the long term. On the other hand, the Dung Quat Economic Zone has the advantage of geographical location and a deep-water seaport, which is very suitable for investment in expanding steel production and supporting industries. It is the reason that Hoa Phat Dung Quat Steel Joint Stock Company proposed to expand a number of projects, create synchronous infrastructure, maximize land use efficiency, and enhance investment attraction in Dung Quat Economic Zone.

Accordingly, the company proposed the province to create a land fund of about 300 hectares in the south of Hoa Phat Dung Quat Steel Integrated Complex 1 and 2 across Tri Binh - Dung Quat Street, in Binh Dong Commune for the construction of an iron alloy manufacturing plant; adding an area of about 79 hectares to expand Hoa Phat Dung Quat 2 Factory project; propose to supplement the planning of 796 hectares in Binh Thuan Commune to invest in Hoa Phat Dung Quat 3 project. These projects will contribute to synchronous investment projects, closing the steel production chain and support industries, optimize land use efficiency and make greater contributions to the province's socio-economic development.

Quang Ngai Province’s leaders have directed departments and agencies to study the Hoa Phat Group's proposals in accordance with their competence, order and current regulations. The Dung Quat Economic Zone’s adjustment planning needs to follow the direction of sustainable and long-term development, giving priorities to Quang Ngai Province’s interests.

Hoa Phat Dung Quat Steel Joint Stock Company is one of the largest enterprises in Quang Ngai Province. The Hoa Phat Dung Quat Iron and Steel Production Complex has a capacity of over 5 million tons a year, creating stable jobs for more than 12,000 people, mainly local people.

Currently, the company is speeding up the implementation of legal procedures and land clearance to deploy the Hoa Phat Dung Quat 2 Iron and Steel Complex project from early 2022. With a capacity of 5.6 million tons of hot-rolled steel a year, Hoa Phat Dung Quat 2 project would create more jobs for about 8,000 employees, strongly promote mechanical and support industries, actively contribute to the growth of industrial production value and Quang Ngai Province’s GDP in the long term period.

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