Hoa Phat Dung Quat steel complex to be operational in Q3
The process of the Hoa Phat Dung Quat iron and steel production complex project is on schedule with the first line expected to be operational in the third quarter of this year, meeting demands of the central and southern regions.
The process of the Hoa Phat Dung Quat iron and steel production complex project is on schedule. (Source: VNA)
Hanoi (VNA) – The process of the HoaPhat Dung Quat iron and steel production complex project is on schedule withthe first line expected to be operational in the third quarter of this year, meetingdemands of the central and southern regions.
According to Hoa Phat Group, other itemsare projected to be completed from the fourth quarter of this year to 2019. Itaims to put both phases of the project into a trial run in late 2019.
By the end of the first quarter of 2018,Hoa Phat Group reported revenue of 13 trillion VND (572 million USD), and a post-taxprofit of 2.2 trillion VND (96.8 million USD), up 25 percent and 14 percentyear-on-year, respectively. The steel sector remained the driver of Hoa Phatduring the reviewed period, the group said.
The busy construction market in the firstmonths helped Hoa Phat grow nearly 10 percent against the corresponding timelast year, with an output of 542,000 tonnes. With the yield, the group hasmaintained its leading position in the domestic construction steel sector with itsmarket share exceeding 24 percent.
Between January and March, the groupexported 73,000 tonnes of steel sheets, a rise of 40 percent year-on-year,earning more than 42 million USD. Its major markets included Australia, ASEANmember nations, the US and Canada.
Of note, Hoa Phat Group has shippedwire-drawing steel to the Republic of Korea (RoK) and Laos for the first time.
Other products like interiors,refrigeration and building equipment have also maintained their market shares.
In the sphere of real estate, the group isspeeding up the hand-over of its Mandarin Garden 2 housing project and Hoa Phat70 Nguyen Duc Canh apartment building, and infrastructure projects at severalindustrial parks.
Thanks to its outstanding performance, HoaPhat has been named in the list of the strongest Vietnamese brand names, andtaken the lead among the top ten prestigious construction material businessesin the country.-VNA
Hoa Phat Group hopes to earn more than 100 trillion VND in revenue by 2020, the year the Hoa Phat Dung Quat iron and steel production complex is expected to become fully operational.
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The process of the Hoa Phat Dung Quat iron and steel production complex project is on schedule. (Source: VNA) 
