Vietnam-based steel producer Hoa Phat Group has announced that it has decided to invest in a new high-quality post-tensioning steel plant in Dung Quat Economic Zone in Vietnam’s Quang Ngai province, with the aim of replacing imports. The commissioning of the plant is expected in 2019.
Hoa Phat will start construction works for the new plant in the first quarter of 2018. Total investment for the plant will amount to over VND 1 trillion ($44.01 million). The new high-quality post-tensioning steel plant with an annual production capacity of 160,000 mt will produce PC bar, PC strand and PC wire, which are largely used in infrastructure projects that require high technology, high load capacity and safety.