Hoa Phat has produced 1 million tonnes of HRC in its Hoa Phat Dung Quat complex after nine months of pilot production. — Photo courtesy of the group

Vietnamese steel producer Hoa Phat Group will launch its Hoa Phat Dung Quat 2 iron and steel factory project in early 2022 with a capacity of 5 million tonnes per year, focusing on hot-rolled coil (HRC) production using the latest technology.

Currently, the domestic market demand for HRC – the materials for the production of many products such as steel pipes, galvanised steel sheets, automobile spare parts, and household appliances, is about 12 million tonnes per year, 60 per cent of which is imported.

Recently, Hoa Phat has produced one million tonnes of HRC in its Hoa Phat Dung Quat complex after nine months of pilot production, a milestone of the firm.

Last year, Hoa Phat supplied nearly 700,000 tonnes of HRC. In 2021, the firm expects 2.7 million in HRC output, along with more than 5 million tonnes of steel billets and construction steel. All the targeted HRC and half of the billets and construction steel will be produced in Hoa Phat’s iron and steel production complex in Dung Quat. — VNS