Hoa Phat pours nearly 70,000 billion VND into Dung Quat production complex

(QNgTV)- Hoa Phat Dung Quat 2 project continues to be the investment focus of Hoa Phat Group in the first half of 2025 with the value of unfinished basic construction increasing by thousands of billions of VND.

Dung Quat 2 Iron and Steel Complex. Photo: Hoa Phat .

According to the financial report for the second quarter of 2025, as of June 30, Hoa Phat Group recorded a total value of unfinished basic construction of more than VND 72,700 billion, an increase of more than VND 9,000 billion compared to the beginning of the year. Of this, the Hoa Phat Dung Quat Iron and Steel Complex project continued to account for the majority with nearly VND 68,855 billion, an increase of VND 8,747 billion after only 6 months.

Dung Quat 2 project is currently Hoa Phat's largest construction site, with progress being accelerated amid high domestic demand for hot-rolled coil (HRC).

The Group plans to complete blast furnace No. 6 of phase 2 of the project this coming September. When put into operation, the Group's total steel output will increase to 16 million tons/year, with HRC alone reaching 9 million tons, enough to fully meet domestic market demand for this product.

In addition to ongoing projects, Hoa Phat Group also plans to start construction of a factory producing high-speed train steel rails and special shaped steel in Dung Quat on August 19. The project will be built in the Eastern Industrial Park, Dung Quat Economic Zone with a land area of 14.79 hectares, a designed capacity of 700,000 tons/year, and a total investment of VND10,000 billion. It is expected that the factory can be put into operation in the third quarter of 2028.

When operational, the project will promptly meet the demand for railway steel for key national projects in the coming period such as the North-South high-speed railway, the Hanoi -Lao Cai-Hai Phong urban railway system and many other important projects.

According to the leaders of the Management Board of Dung Quat Economic Zone and Quang Ngai Industrial Parks, the project can generate about 11,437 billion VND in annual revenue, contributing about 150 billion VND to the State budget annually.

Source: https://quangngaitv.vn/hoa-phat-rot-gan-70-000-ty-dong-vao-to-hop-san-xuat-dung-quat-6505681.html