Vietnamese steelmaker, Hoa Phat group’s HRC production surpassed 1mn mt for the first time. In nine months after the commencement of production at the newly installed facility at Hoa Phat Dung Quat Iron and Steel Production Complex, the steelmaker saw a speedy rise in production and demand.
The company attributed this feat to the team of experts from the technology provider and employees’ spirit of overcoming all difficulties during the pandemic.
The plant installed a hot-rolled steel coil production line with continuous sheet rolling molding technology, which has been deployed for the first time ever by the Danieli Group.
In 2020, Hoa Phat’s HRC production was at 700,000mt from the Dung Quat complex. The complex accounts for 50pc of Hoa Phat’s billet and steel output.
In 2021, the group has a target of 2.7mn mt HRC and over 5mn mt of construction steel and structures.
After the successful implementation of phase 1, the company expects to implement the second phase of the Dung Quat project in early 2022 with a capacity of 5mn mt per annum. It will focus on the upgradation of the HRC production with the most modern technology.
The country could lower its import dependence in the coming days. Vietnam’s HRC demand in the domestic market is around 12mn mt per year, with imports above 7mn mt or 60pc.