Hoa Phat to Set Up TEU Containers Plant in Vietnam
VNA reported that Vietnamese Steel maker Hoa Phat Group is recruiting experienced personnel for a cargo container manufacturing project, with a designed capacity of 500,000 Twenty Foot Equivalent units per year, expected to start production in the second quarter of 2022. Hoa Phat Group Vice Chairman Mr Nguyen Manh Tuan said “Global demand for cargo containers is on the rise as a result of growing e-commerce and foreign trade. We have been conducting research in various fields and are confident we have the ‘firepower’ to make the container manufacturing project successful and competitive with manufacturers from China, the world’s leading container producer.”
According to Hoa Phat, shipping containers are made from weather-resistant and expensive SPA-H steel. Steel currently accounts for about 55% of the production cost.