Billionaire Tran Dinh Long: North-South High-Speed Rail – A ‘Once-in-a-Millennium Opportunity’ or ‘Nothing to Say’ if Only Importing?

On May 29, 2025, Hoa Phat signed a contract with SMS Group (Germany) to install a rail steel production line at Dung Quat factory, expected to be completed by Q1 2027. Hoa Phat will be the only enterprise in Southeast Asia to produce domestic rail steel, supplying 10 million tons of quality rail for the North-South high-speed rail project. Chairman Tran Dinh Long believes that if quality production is ensured and prices are reasonable, many customers will seek them out. He emphasizes that developing the rail industrial sector is a golden opportunity and that if materials are still imported, there is “nothing to say”. Hoa Phat also plans to export 30% of its profile steel output and hopes the government will prioritize domestic suppliers.