Vietnamese Hoa Phat to start operations this month

Vietnamese Hoa Phat to start operations this month

According to recent news in the market, another steel ingot plant is to commence operations at Pho Noi industrial zone in northern Hung Yen province of Vietnam this month. The name of the plant was determined as Hoa Phat. As previously reported by SteelOrbis, the plant, which will have annual production capacity of 200'000 tons, began trial operations in August. For the establishment of the plant, an investment of VND 200 billion ($12.7 million) was made. The plant will supply ingot to steel mills in the country and reduce Vietnam's dependence on imported steel ingot.