Billionaire Tran Dinh Long: Hoa Phat confident in its capacity to produce rail steel and steel for train wheels as ordered by the Government

In the annual report, Chairman Tran Dinh Long stated that Hoa Phat Group (HPG) is strongly focused on producing high-quality steel to replace imports. Hoa Phat is confident in its ability to produce rail steel and steel for wheels as required by the Government. They plan to complete the Hoa Phat Dung Quat 2 steel complex project by 2025, which is expected to increase their production capacity to 15 million tons per year. In 2024, Hoa Phat achieved revenue of 140 trillion VND and net profit of over 12 trillion VND, showing significant growth compared to 2023. The steel segment plays a key role, accounting for 93% of the company’s total revenue. Profit from agriculture increased 4.6 times. Exports contribute 31% of revenue, with a volume of 2.63 million tons and a diverse market of 40 countries. Hoa Phat is committed to maintaining a growth rate of no less than 15% annually for the period 2025-2030, while also contributing nearly 13.5 trillion VND to the 2024 budget.