CTCP Nam Kim Steel (ticker NKG) has increased its investment for the Nam Kim Phu My steel sheet plant project by an additional 400 billion VND, raising the total investment to 6.2 trillion VND. The project, executed by Nam Kim Phu My LLC, is set for completion by 2027 and aims to produce silicon electrical steel. In April 2025, the company adjusted the investment from 4.5 trillion VND to 5.8 trillion VND and raised 1.58 trillion VND through the sale of 131.6 million shares to existing shareholders. By the end of Q1 2025, total investment in the project reached nearly 2.08 trillion VND. The plant is expected to commence operations in early Q1 2026, taking 2-3 quarters to reach 50-60% capacity, with full capacity expected by 2027. The production target for 2025 is 1.05 million tons, with a revenue goal of 23 trillion VND, an increase of 11.1% year-on-year, although pre-tax profit is projected to drop by 21.1%.
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