Hòa Phát ties with Italian group on steel

Posted on 06 February 2018

Source: Viet Nam News

Hòa Phát Dung Quất Steel JSC of Hòa Phát Group is coordinating with Italy’s Danieli – one of the world’s largest suppliers of metallurgical equipment to consider a project on stainless steel (inox) production, the Vietnam News Agency reported.

According to Deputy Director of the Hòa Phát Dung Quất Steel JSC, Vương Ngọc Linh, the project is designed with a capacity of 600,000 tonnes per year, which could be increased to one million tonnes per annum, and will be the first modern stainless steel manufacturing plant in Việt Nam.

The plant will be located at the Hòa Phát Dung Quất iron and steel production complex area in Dung Quất Economic Zone in central Quảng Ngãi province to make use of the available infrastructure.

The project, which will be completed by 2020, aims to increase the value chain of steel products, and reduce imports and dependence on foreign markets.

Preliminary statistics showed that Việt Nam imported about 560,000 tonnes of stainless steel products in 2017, up 10 percent against the previous year, in service of industrial production, mechanics, and consumer products. 

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