Vietnamese steelmaker Viet Phap Steel Sheet JSC has broken ground for its new steel plant that will be constructed at Nam Dinh Vu Industrial Park in Hai Phong City, entailing an investment of about $45 million, according to a statement released by the construction company and project contractor Hai Long Construction.
Spanning 75,000 square meters, the steel sheet plant No. 2 will have a production capacity of 350,000 mt per year, catering to the domestic and international markets. The plant will benefit from advanced and modern technologies, ensuring high quality, efficiency and sustainability. Also, with its closeness to major seaports and logistics routes, Viet Phap Steel will be able to optimize its costs and increase its competitiveness.
In the meantime, the construction is expected to take 200 days, with the support of the management of the Hai Phong Economic Zone, eliminating hurdles to put the plant into operation as soon as possible.