Steel production at a mill of Hoa Phat corporation (Photo: VNA)Hanoi (VNA) – The sales of Hoa Phat construction steel grew nearly 30percent year on year to 933,626 tonnes in the first for months of the year.
Hoa Phat Group, a major industrial group in Vietnam, said that it shippednearly 95,000 tonnes of steel overseas during the January-April period, up 22percent from the same time in 2018.
According to Do Minh Quy, Director of Hoa Phat Group’s branch in Ho Chi MinhCity, the sales increased particularly in the civil construction area as thegroup was able to give better supply to the market.
Thanks to the completion of the construction steel production line at the HoaPhat Dung Quat Iron and Steel Production Complex, the sales of steel in thesouthern region was 3.5 times higher than the amount recorded in the same timelast year.
In April, Hoa Phat Dung Quat port welcomed the first foreign ship, BBC Switzerland,which carried technological equipment for the construction of the QSP rollingmill at the complex.
Hoa Phat Dung Quat complex is designed to have a total of 11 ports, able tohandle up to 32 million tonnes of goods each year.
Hoa Phat plans to produce some 3.3 million tonnes of construction steel in2019.
Last year, it shipped 240,000 tonnesof steel abroad, up 50.97 percent against the previous year.
Never before had the group received such largeorders from its traditional markets – including Japan, the US, Cambodia, andMalaysia – like it did in 2018. The strongest growth was seen in Japan, withtotal steel orders increasing 20 times to over 58,500 tonnes, followed byCambodia at a 246 percent increase and Malaysia with a rise of 202 percent.
Cambodia was the largest customer of Hoa Phat in2018 with nearly 70,000 tonnes, and will continue to be a market with greatpotential for Hoa Phat steel as the neighbouring country’s steel industry hasnot yet developed, while demand is high for the construction of high-risebuildings.–VNA
VNA
