Vietnam-based construction company Hoa Binh Construction Group has announced that it has signed a memorandum of understanding with Vietnamese steelmaker Pomina Steel to develop the second phase of the latter's steel plant in Phu My 1 Industrial Park.
Covering almost 40,000 square meters, the project will have an annual production capacity of 1.2 million mt of high-quality flat steel, with construction scheduled to begin in early October.
Pomina Steel stated that the partnership will combine its manufacturing capabilities with Hoa Binh's experience in large-scale industrial construction, supporting compliance with technical standards, cost optimization and the creation of sustainable value.
According to Hoa Binh, the investment will strengthen cooperation between the companies while contributing to the modernization, efficiency and long-term development of Vietnam's steel industry.
