HANOI -- Vietnam's Hoa Phat Group, Southeast Asia's top steelmaker, has opened a factory for air conditioners and other home appliances in a nascent segment it hopes will generate $1 billion in annual revenue by 2030.
The plant in Vietnam's northern province of Ha Nam also will make water purifiers and air purifiers, with an annual capacity of 1 million products. The factory in Hoa Mac Industrial Park cost over 1 trillion dong ($41.8 million).
