Hoa Phat Group has begun the test process for slab production at Dung Quat 2 Iron and Steel Complex. Commercial production is planned to begin in 2025. Launched in 2022 with an investment of VND 85,000 billion (approximately USD 3.5 billion), the plant is designed to produce 5.6 million tons of hot rolled coil (HRC) steel per year when fully operational.
The company has completed machinery installation for phase 1 and achieved 50% progress on phase 2. The first blast furnace, along with casting and rolling lines, is scheduled to be operational by the end of 2024, while phase 2 is expected to conclude in late 2025.
Dung Quat 2 features advanced technologies that enhance energy efficiency, ensure stable operations, and reduce CO2 emissions. The project focuses on high-quality HRC production for industries such as automotive manufacturing, steel structures, and containers, signaling Hoa Phat’s shift away from reliance on construction steel. The new facility is expected to enhance Hoa Phat’s competitiveness in the ASEAN and Asian markets with its cost-effective production capabilities.
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