Hoa Phat Dung Quat steel complex licensed in Quang Ngai
The Hoa Phat Group on February 6 received an investment license for the construction of the Hoa Phat Dung Quat iron and steel production complex in the central province of Quang Ngai.
Quang Ngai (VNA) – TheHoa Phat Group on February 6 received an investment license for theconstruction of the Hoa Phat Dung Quat iron and steel production complex in thecentral province of Quang Ngai.
Taking over Guang Lian Dung Quatsteel project, the complex is scheduled for completion within four years. It sitson a site of nearly 372.7ha, nearly 340ha of which will be earmarked forfactories and around 27ha is for specialised ports with a total investment of60 trillion VND (2.6 billion USD).
With a capacity of 4 million tonnesper year, it mostly manufactures construction and rolled steels.
In the first stage, the complex willchurn out 1 million tonnes of construction steel and 1 million tonnes of rolledsteel. Later, two million tonnes of rolled steel will be produced during thesecond stage.
After being put into operation, it isexpected to make an annual revenue of nearly 2 billion USD, generate jobs to 8,000workers and contribute 4 trillion VND (173.9 million USD) to the State budget.
Speaking at the event, Chairman ofthe provincial People’s Committee Tran Ngoc Cang vowed all possible support forthe project.
The project will be valid for 50years and part of a master plan on steel manufacturing and distribution until2020 approved by the Minister of Industry and Trade.-VNA
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Illustrative image (Source: VNA) 
