Hoa Phat Becomes Largest Steel Producer in Vietnam
Vietnamese steel maker Hoa Phat announced that Hoa Phat has become the largest steel producer in Vietnam after it produced 2 million tonnes of crude steel, up 60% over the same period, in the first quarter of 2021, and Formosa Ha Tinh ranked second with an output of 1.62 million tonnes, 20% lower than the output of Hoa Phat. Hoa Phat reached 700,000 tonnes of crude steel in March 2021, up 56% over the same period and is the highest level ever. Market share of construction steel, steel pipes Hoa Phat holds the No. 1
Hoa Phat Group's yearly steel capacity is over 8 million tonnes per year, including over 5 million tonnes of construction steel and 3 million tonnes of HRC per year. The complex in Dung Quat is the largest with a production output of 5.2 million tonnes per year, followed by Hoa Phat Hai Duong Iron and Steel Complex with 2.5 million tonnes per year. The steel mill complex in Hung Yen has a capacity of 400,000 tonnes per year. It is expected that when completing Hoa Phat Dung Quat 2 project, Hoa Phat's crude steel output will reach 14 million tonnes per year.