Vietnam-based Hoa Phat Group will launch the second phase of its Dung Quat project, which includes two blast furnaces and a flat rolling mill, in the second quarter of 2020, according to its official statement. The total steelmaking capacity under the second phase is 2 million mt per year. The company said that 80 percent of construction has already been completed.
In August this year, Hoa Phat Group has announced the successful commissioning of the first of four converters at its Dung Quat project, while the second convertor was started later in the year.
In the first phase, the finished steel capacity (2 million mt per year) is mostly focused on long products, such as rebar and wire rod, while Hoa Phat Group has started to provide some billet for the export market. In the second phase of the project, the company will produce hot rolled coil and will try to focus also on the local market, but some export sales are possible.
This year, Hoa Phat Group expects to sell about 2.7 million mt of steel, while in 2020 its target is 3.5-3.6 million mt.
