ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Materials

Vietnam's Hoa Phat tightens grip as top Southeast Asia steelmaker

New blast furnace to help boost output 70%, curb dependence on Chinese imports

Hoa Phat's new blast furnace will allow Vietnam to domestically produce much of its supply of hot-rolled coils. (Photo courtesy of Hoa Phat Group)

HANOI -- After emerging as Southeast Asia's biggest steelmaker earlier this year, Vietnam's Hoa Phat Group aims to solidify its position with a new 85 trillion dong ($3.7 billion) blast furnace breaking ground in early 2022.

"Demand for steel remains strong in Vietnam, and we have a lot of faith in this investment," Hoa Phat Chairman Tran Dinh Long said of the new furnace planned in Vietnam's central Quang Ngai Province.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more