Hoa Phat studies to invest in 3 projects in Phu Yen Province

On March 3, 2024, the People's Committee of Phu Yen Province organized a conference to announce the Planning and Investment Promotion of Phu Yen Province in 2024. At the event, the provincial leaders awarded investment certificates and a memorandum of understanding for investment cooperation in some projects. In particular, Hoa Phat Group signed a memorandum of understanding on studying investment into 3 projects with a total expected capital of more than VND120 trillion.

Mr. Tran Van Nam - Deputy Director of Hoa Phat Hung Yen Steel Company (2nd from left, front row) received the memorandum of understanding on investment cooperation in Phu Yen Province.

Attending the event were National Assembly Chairman Vuong Dinh Hue, Deputy Prime Minister Tran Hong Ha, leaders of ministries, central branches and businesses in Phu Yen Province. Mr. Tran Dinh Long - Chairman of the Board of Management of Hoa Phat Group and its members of the project department’s specialists attended the event.

Mr. Tran Dinh Long said Hoa Phat is the largest steel manufacturer in Southeast Asia, with over 30 years of experience in large-scale industrial production. After a period of studying, researching and discussing with leaders of Phu Yen Province, Hoa Phat Group decided to sign a memorandum of understanding to invest in 3 projects in South Phu Yen Economic Zone. The projects include Bai Goc Port; investing in construction and trading in infrastructure of Hoa Tam Industrial Park; and Hoa Phat Steel Integrated Complex Project in Hoa Tam Industrial Park. The total investment capital is expected at over VND120 trillion.

Chairman of the Board of Directors Tran Dinh Long delivered a speech at the conference

Mr. Tran Dinh Long believed that Hoa Phat's projects in Phu Yen Province would create widespread motivation, promote the province's socio-economic development, create jobs for 20,000 workers in the province, and contribute about VND10 trillion to the provincial State budget each year.

Hoa Phat Group currently has a crude steel capacity of 8.5 million tons a year. Of which, high quality steel billets and construction steel are 5.5 million tons, hot rolled steel coils 3 million tons a year. Hoa Phat leads the market share in Vietnam in construction steel and steel pipes, Top 5 largest manufacturers of galvanized steel sheets. It now is the only Vietnamese enterprise that can produce HRC steel, prestressed steel cables and many types of other high quality steel.

The group is implementing the Hoa Phat Dung Quat 2 Steel Integrated Production Complex project in Quang Ngai Province with a designed capacity of 5.6 million tons of hot rolled steel per year. It is expected that when the project is completed in 2025, Hoa Phat's annual crude steel production capacity will reach over 14 million tons, equivalent to the top 30 largest steel enterprises in the world.

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