Vietnam's Hoa Phat will build a new steel plant with a production capacity of 6 million tons

Vietnam's Hoa Phat Steel Group (hereinafter referred to as Hoa Phat) officially announced that it will invest 120 trillion Vietnamese dong (approximately 4.7 billion US dollars) to build a steel complex project consisting of two parts: Bai Goc Port and Dak Lak Province.

In order to maintain consistency with the double-digit growth target of the Vietnamese government, Hoa Phat Steel Group plans to continue expanding local investment, especially in the production of high-quality steel products. The steel plant that He Fa Steel Group plans to build in Da Lat Province has an annual designed total production capacity of 6 million tons and will be constructed in two phases. Among them, the first phase of the project will be implemented starting from the end of 2025, with an expected annual production capacity of 3 million tons. Once completed, the annual steel production capacity of Hefa Steel Group will reach 22 million tons. Meanwhile, the project at Baigu Port will also be constructed in two phases. The infrastructure will include 13 specialized berths with a capacity of 250,000 deadweight tons each, 6 general cargo berths with a capacity of 50,000 deadweight tons each, 6 liquid/gas berths with a capacity of 50,000 deadweight tons each, and one SPM (Single Point Mooring) berth. The group predicts that the annual cargo throughput of Baigu Port will reach 26 million tons by 2030.

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