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Hoa Phat Group Gears Up for Hot-Rolled Expansion
03/01/2021 - Vietnam’s Hoa Phat Group will launch an expansion of its Dung Quat complex early next year, the company has said.
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.
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