In a statement, the company said the hot-rolled expansion will add 5 million metric tons of capacity. The company said the new capacity is meant to displace imports, which currently account for 60% of Vietnam’s 12 million metric tons of hot-rolled coil demand. 

Hoa Phat last year entered the Vietnamese hot-rolled market, commissioning a Danieli-built line at the Dung Quat complex. The line rolled its 1 millionth metric ton last month. 

The company is targeting 2.7 million metric tons of hot-rolled coil production this year.