Vietnam-based steelmaker Hoa Phat Group plans to invest an additional VND 20 trillion (approximately $765 million) in its rail and special steel production project in the Dung Quat Economic Zone, expanding the project area by nearly 77 hectares and increasing its annual production capacity by two million mt, according to local media reports.
According to information disclosed during a meeting between Hoa Phat and the Quang Ngai provincial authorities, the steelmaker is implementing seven projects in Dung Quat with combined investment of VND 194 trillion (approximately $7.42 billion). Covering about 710 hectares, these projects are primarily focused on steel production and have a combined annual capacity of 12.8 million mt.
Hoa Phat has requested an adjustment to Dung Quat's eastern industrial zone plan to accommodate a coal gas pipeline and the temporary lease of 5.3 hectares in Van Tuong commune for equipment and material storage. The company aims to commission the rail steel project in the first quarter of 2027.
The steelmaker is also considering investments in the 436-hectare Binh Hoa-Binh Phuoc Industrial Park, Dung Quat general port container terminals No. 4 and No. 5 and the 179-hectare Ferro Industrial Park. Meanwhile, the Quang Ngai authorities have pledged to accelerate the land clearance, resettlement, planning and investment procedures affecting Hoa Phat's projects.
